Kay Walsh of Deloitte has written an article listing 10 compelling reasons why South African companies must pay attention to Green Growth. Sustainability and climate change is at the top of the agenda of most companies and must be taken very seriously. Here is reason number one why you need to pay attention to “Green Growth”. Contact Kay Walsh at kaywalsh@deloitte.co.za or visit the Deloitte Sustainability and Climate Change website for more information.
Government is very serious about Green Growth and is actively driving it
Government believes that by adopting Green Growth strategies it will be able to continue to meet growth and development targets without comprising the future health of the country’s natural environment and exacerbating broad-scale environmental problems such as climate change. It is therefore actively driving green initiatives and employing key people to ensure their success.
It believes by promoting Green Growth it can stimulate a new set of industries. By promoting the efficient allocation of natural resources and correcting for market failures through appropriate pricing and by favouring labour-intensive and environmentally sustainable growth, Government aims to change the pattern of economic growth in South Africa. Above all, Government recognises that going green is vital for South Africa’s future involvement in the global economy.
Much of the current Green Growth strategy revolves around the latest Integrated Resources Plan (IRP) from the Department of Energy (DOE), which has made allowances for a large part of future electricity provision to come from renewable sources.
In addition the DOE has started feasibility studies to investigate the potential of a local manufacturing industry in the wind and solar power sectors.
Parastatals including the Industrial Development Corporation (IDC) and the Development Bank of SA (DBSA), offer special funding for energy-efficiency and Green Growth.
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