A new report warns of trillions in oil and gas revenues at risk by 2040, with demand set to fall globally in favour of cheaper renewables.

Accelerating renewables in line with the 1.5°C pathway would safeguard global GDP, inflation and jobs in the event of an oil and gas price shock.

The three gas-to-power ships will “cost South Africa billions of rand and be loaded onto your electricity bill”, argues OUTA.

Climate change and supply chain disruptions impacted food availability and affordability in 2022, causing double-digit inflation for many key items.

Spiralling food prices are driving inflation and squeezing household budgets. This is exacerbating poverty, hunger and debt.