SPONSORED | While profits and productivity were the focus areas for most companies a decade ago, there has been a growing realisation that ESG is material to the bottom line, said experts during a recent FM Green Economy conference. ArenaEventsZA
A recent FM Green Economy conference discussed the shift towards cleaner industries and renewable energy solutionsThe global focus on achieving sustainability imperatives that provide businesses with the social licence to operate is gaining similar momentum in SA. Building a green economy, where corporate SA conducts its business in a sustainable manner, is rapidly becoming table stakes in attracting foreign investment.
Demand for responsible finance is intensifying with policy interventions growing exponentially in the past 20 years, said Naledi. Despite policy interventions and greater demand from managers, he warned of a tendency by some companies to greenwash their ESG claims. “Gone are the days that sustainability is merely the right thing to do, it’s become key to our survival
A panel of experts discussed how to solve SA’s energy crisis through renewable energy. James Cumming, GM of renewable energy company African Clean Energy Developments , said renewables can only do so much until battery storage improves. Solving the energy crisis requires that Eskom’s fleet of power stations performs optimally while getting renewables on the grid.
He said the problem with nuclear power is that projects are always over budget and take longer to build than expected. Given the failures at Kusile and Medupi power stations, SA should not mortgage its future for nuclear energy. He said focusing on gas to solve SA’s energy crisis was a similar fool’s errand.
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