South Africa's New Growth Path announced in 2010 identifies the green economy as one of their six priority areas. A Green Economy Accord, intended as a partnership between government, the business community, trade unions and civil society, sets out potential opportunities for economic activity from climate change, innovation drawn from technology and research and manufacturing.
In May 2012, the National Treasury established a Green Fund of R800 million over the next two years which aims to provide finance for high-quality, high-impact, job-creating green economy projects around the country. A 5000 MW solar park in the semi-desert Northern Cape Province costing US$ 21.8 billion has recently been announced.
The primary objective of the Green Fund is to provide catalytic finance for high quality, high impact green economy projects and mainstreaming activities which would not have been implemented without fiscal support
- Edna Molewa - Environment Minister
Photo by Joshua Earle on Unsplash
