CELEBRATING A DECADE OF GREEN ECONOMY GROWTH
Updated: Jan 25
Since its launch in 2010, GreenCape has leveraged its funding partnerships and industry networks to facilitate R41 billion worth of investment into the South African green economy, supporting the creation of 19 000 direct green jobs. These green economy projects have driven green economic growth in the western Cape and South Africa. Originally established to facilitate the growth of the Cape's renewable energy sector, GreenCape’s operations have expanded to include a national footprint with a broader green economy focus, including water, sustainable agriculture, circular economy and green finance.
Investment aimed at growing the green economy ensures the sustainability of future economic opportunities and the green economy is a key sector with enormous potential to contribute to a sustainable business ecosystem that creates jobs.
GreenCape was initially funded by the Western Cape Department of Economic Development and Tourism, but partnerships have since diversified to include the City of Cape Town’s
Department of Enterprise Development and Investment, as well as national government departments, international funders, foundations and the private sector.
Lowering carbon emissions is at the heart of the global climate change narrative and a green economy is one with decent jobs underpinned by sustainable infrastructure solutions.
A few of the highlights include:
the Western Cape Industrial Symbiosis Programme (WISP), a free facilitation service to businesses, funded by the City of Cape Town. Facilitators provide business members with dedicated time and technical expertise;
Small Scale Embedded Generation (SSEG) municipal framework, where GreenCape supports local municipalities to build capacity related to SSEG, whilst creating policy certainty for investors. Changes in municipal regulations governing SSEG system installations have improved market conditions for investors, equipment suppliers, project developers and technical advisors;
project management for the designation of the Atlantis Special Economic Zone: GreenCape was appointed Atlantis SEZ project management unit, responsible for coordinating the successful application for designation;
drought business support: GreenCape’s drought support team offered free support to businesses in the province, and continues to do so through ongoing funding from the provincial government. The goal is to help businesses reduce their water use so they can sustain business operations and build resilience;
the Green Outcomes Fund: through a partnership officially signed in January 2020 between National Treasury’s Jobs Fund and GreenCape, the Green Outcomes Fund provides funding to support investments into local SMME’s that make a contribution to South Africa’s green economy, as well as job and enterprise creation in priority impact areas;
skills: the Atlantis skills development programme aims to empower residents and young people of Atlantis with valuable skills, so that they are able to access potential employment opportunities created by the growth of the Atlantis Special Economic Zone.
During the lockdown, GreenCape has been working with various partners to support a green economic recovery. It is a non-profit organisation with the vision to create a thriving economy using green principles. Its aim is to be globally relevant in driving the uptake of green economy infrastructure solutions in the context of the developing world.