Managing carbon emissions risks: A literature review within a South African context

A huge challenge affecting the whole world today is climate change. Climate change disrupts national economies and affects lives. It also costs people, communities and countries. Evidence of climate change seen in the increase of extreme weather events, changes in weather patterns, highest levels of greenhouse gas emissions and rising sea levels. If action is not taken by world communities, the average world's surface temperature is likely to exceed 3 degrees Celsius in this century. Most countries exposure to external risks has increased very substantially due global engagement economically and politically. This is further complicated by the removal of the sources of protection against shocks in pursuit of greater flexibility and efficiency. Uncertainty about the severity and timing of climate change impacts continues to pose a major risk in its management. Climate change creates a complex interlinked risks to the environmental, social and economic systems on which we all depend. A better understanding of the impacts of climate change and their impartial tracking is required to avoid its worst impacts. Most researches identify Climate change as the “ultimate” risk multiplier in exacerbating poverty and inequality and promoting prosperity and stability. Indications are that climate change will negatively impact hotter, developing and poor countries. Climate change impacts are global and wide ranging and have connections with many other goals. The paper will be present how can ISO 31000:2018 standard can be a major resource that can be used in developing risk management programs of South Africa's contributions to carbon emissions and the country's aspirations as committed at COP 25.