The City of Johannesburg has set aside R234 million from its operating budget to be spent on renewable energy and green initiatives for the 2014/2015 financial year.
Some of the green initiatives the city plans to focus on include climate change and energy diversification, biodiversity conservation, integrated waste management, and ecological infrastructure.
According to city executive mayor Parks Tau, the interventions show how local governments need to be pioneers in this space in order to advance the development of the African continent.
"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," says Tau.
"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 Joburg became the first South African municipality to list a green bond on the Johannesburg Stock Exchange. The city says the money raised through the R1.46 billion bond is set to finance green initiatives such as the bio gas-energy project, and others aimed at reducing greenhouse gas emissions.
Share