African cities are taking the lead with investment in interventions designed to conserve natural resources and energy for generations to come.
This is as many countries around the world look to innovative ways to conserve and efficiently manage critical resources – particularly the supply of safe and clean water and energy. The City of Johannesburg in South Africa, for example, has set aside R234 million from its operating budget to be spent on environment and infrastructure services during the current financial year. Areas that the city is investing in include the biodiversity conservation, integrated waste management and ecological infrastructure. The rehabilitation of a mine dump, air quality improvement, as well as climate change and energy diversification, are just some of a number of green initiatives that the metropolitan is focused on.Local government must lead as innovators
According to City of Johannesburg Executive Mayor, Councillor Parks Tau, The demand for efficient, reliable and affordable renewable and environmentally friendly energy is a basic need for all African households and industries. “Local governments need to harness all available energy resources and come up with fresh approaches and initiatives to fund new projects, and encourage investments in this space through green incentives,” Tau notes. He adds: “Cities are the building blocks in optimising resources for the development of Africa in the lead up to 2063, and it is safe to say that African cities are awake to this reality. In-line with the vision of Agenda 2063, the continent needs to intensify its mobilisation of resources to finance its development and environmental sustainability.”Last year, the City of Johannesburg became the first municipality in South Africa to list a ‘Green Bond’ at the Johannesburg Stock Exchange (JSE).
The money raised through the R1. 46 billion bond, that will mature in 2024, is set to finance green initiatives such as the Bio Gas-Energy Project, and other initiatives aimed at reducing green-house gas emissions.