The Western Cape Industrial Symbiosis Programme (WISP) has generated a massive R67.9 million towards Cape Town’s green economy.
Through the WISP programme, which is managed by GreenCape, the City of Cape Town is providing businesses with technical expertise to help explore economically viable opportunities in the green economy.
James Vos, Mayoral Committee Member for Economic Opportunities and Asset Management, says he is pleased with the phenomenal financial benefits that the WISP initiative has generated for Cape Town’s green economy.
“The additional revenue generated by these businesses totalled R34.6 million, calculated on cost savings of R24.8 million and private investments of R8.54 million. The WISP programme has proven to be a lucrative one, as for every R1 that the City invested, R7 is returned as direct financial benefits,” Vos explains.
WISP facilitators provide participating businesses with technical expertise by connecting them with unused or residual resources such as materials, energy, water, assets and logistics.
“This is a programme that we are particularly proud of, as it operates at the direct company interface with waste management. It helps manufacturing companies to increase competitiveness while reducing the burden on the environment,” says Mike Mulcahy, CEO for GreenCape.
Through the initiative 36 600 tons of waste is diverted from landfills with an estimated fossil greenhouse gas saving of 147 700 tons CO2e which is equivalent to the annual electricity usage of 39 800 South African households.