The Green Fund will support initiatives focused on green cities and towns; low-carbon economy; and environmental and natural resource management.
The Green Fund is a unique, newly established national fund. The Department of Environmental Affairs and the Development of Bank of Southern Africa supports it. The National Treasury made R 800 million available for it. It will support green initiatives to assist South Africa’s transition to a low carbon, resource efficient and climate resilient development path delivering high impact economic, environmental and social benefits. The Green Fund looks to support projects that promote the following:
Green Cities and Towns
Local government, through public sector procurement and alignment of spending on infrastructure and services, with environment performance indicators, can play a significant role in generating the demand for green products and services. This in turn can create greater localisation of green technologies. By assisting in implementation at local government, the Green Fund can play a role in catalysing significant levels of both public and private sector investment in the green economy.
Low Carbon Economy
The decoupling of economic growth from its impact on natural resources will be driven by private sector efforts to lower environmental impact and resource consumption. This can be achieved through clean production methods and other climate change mitigation and adaptation measures. These include interventions targeting industrial efficiency and the carbon intensity of the economy including energy efficiency, reducing pollution from industrial processes, waste management and reuse of by-products.
Environmental and Natural Resource Management
The protection of biodiversity and securing the sustainable delivery of ecosystem services is the primary focus of this Window. These include interventions targeting ecosystem based adaptation to climate change that could drive rural development models. Managing and reducing the impact of agriculture and land use changes through demand management and resource conservation will be supported.
The Green Fund responds to market weaknesses currently hampering South Africa’s transition to a green economy by:
- Promoting innovative and high impact green programmes and projects
- Reinforcing climate policy objectives through green interventions
- Building an evidence base for the expansion of the green economy, and
- Attracting additional resources to support South Africa’s green economy development.
There were a total of 590 applications, equivalent to R 10.9 billion in its opening round of request for funding proposals. Applicants have been advised about the status of their application.
Enquiries can be directed to Ms Gcinashe Gcanga, DEA Programme Manager on 012 310 3830 or email her email@example.com.