In this age of information we humans count the cost of everything
Even the weather, source of immeasurable pain and pleasure, is likewise reduced to numerical value when it gets too wild, as it appears to be doing more regularly due to climate change.
The most recent deluge in the Western Cape is a case in point, with many power lines, roads and houses destroyed, prompting many to reach for their calculators.
It’s as if attaching a figure to something makes it seem understandable, even when it’s not.
But figures are necessary too, to contain costs, particularly in the context of disaster management and dwindling budgets. Multiple floods over the past two years show that the Western Cape economy in particular is vulnerable to weather impacts. The key employment sectors of agriculture and tourism suffer immediate losses when roads and croplands are washed away. Manufacturing is also affected when staff cannot get to work.
The most recent floods translated into a 40% daily earnings reduction for the minibus taxi industry, while several sectors reported lower staff turnout.
The Port of Cape Town is also routinely affected by the weather, as was the case again in July when the main container terminal was hampered by rain and strong winds.
An increase in extreme weather is linked to global warming, and there is now broad consensus that South Africa faces mounting costs of weather impacts, at least in the foreseeable future.
Of course it’s not just South Africa. Extreme weather, climate and water-related events resulted in worldwide losses of $4,3-trillion between 1970 and 2021, according to a report by the World Meteorological Organisation.
The good news is our government is waking up to the potential devastating weather impacts that are already beginning to be felt. In his latest online newsletter President Cyril Ramaphosa empahsises the need to accelerate the transition to a cleaner economy. Many would say his concerns are belated, and that the transition should already be speeding along, rather than chugging out of the starting block.
Counting the cost may sometimes seem futile but there comes a point when the negative equation is too obvious to ignore. Failure to invest in the future means a downward spiral, both in terms of weather impacts and other challenges too.
The hope is that by counting the cost now, we may reduce the price.
John Lawson
CEO of the Cape Chamber of Commerce and Industry