The City of Johannesburg (COJ) has been announced as a winner of the prestigious C40 Cities Award for its leadership in tackling climate change. The city was among 10 global cities announced as winners at the 3rd Annual C40 Cities Awards held in Paris, France, during the COP21 climate negotiations

COJ won its award for the first-ever listed green bond in South Africa. This bond has helped the City to diversify its portfolio. It cements the City’s commitment to responding to climate change and provides an opportunity to accelerate the advancement of new technologies and environmental solutions.

Banking success 

The bond will support the following City projects:

• COJ’s Integrated Waste Management system in ensuring that at least 70% of the waste is diverted from to landfilling;
• water demand management strategy to encourage the re-use of water, and
• energy management through the implementation renewable sources of energy.

Background

In 2008, COJ conducted a detailed climate change vulnerability assessment in order to assess the impacts of greenhouse gasses and global warming, which was instrumental in helping the City understand its climate risk to ensure it responds accordingly. The Green Bond has been commended by other countries that participated in the recent COP 21 talks in Paris as a step in the right direction in creating funding opportunities to assist the City in preparing and implementing integrated inclusive and long-term adaptation strategies designed to reduce vulnerability, thus cementing its commitment.

The eThekwini Footprint and Buffer Management at the Buffelsdraai Landfill site was also one of the finalists in the solid waste category.

Local government response

Following the award, the South African Local Government Association (SALGA) issued a statement praising all the winners and finalists and furthermore encouraged all its member municipalities to take action to mitigate greenhouse gases emissions and to adapt to the effects of climate change.

South Africa loses billions of Rands a year to unnecessary landfilling and water losses; If all national municipalities were to adopt creative strategies to mitigate waste, water and energy challenges this would have a significant positive effect on stimulating economic prosperity.