SA launches R720m green building funding package as climate fears escalate

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"South Africa is just one step towards reducing weather catastrophes."

A R720-million funding package to help make more buildings “green” in South Africa is just one step towards reducing weather catastrophes such as devastating floods and runaway fires, which have had a disastrous impact on the country.

On Tuesday, the World Bank’s International Finance Corporation (IFC) and Business Partners Limited launched the multi-million-rand Green Building Financing programme.

IFC is providing a R600 million loan package to Business Partners.

But with rebates and grants that Business Partners will give SMEs to finance the certification of their buildings as green, more than R720 million in funding will be made available over the next five years.

The two companies have calculated that this will be enough to “green” about 100 to 120 buildings.

Greening by installing solar panels, water conservation systems and other technologies, Business Partners estimates that each building will reduce its electricity and water consumption by at least 20%.

Industrial buildings, mixed-use developments, shopping centres, residential properties, offices, hospitals, schools and hotels can apply for this funding, as long as they don’t serve the luxury market. – fin24.com

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