Planet South Africa
While we will continue with our internal efforts, we now look to extend our environmental focus to more external considerations. As mediators of money in the economy, the opportunities for banks are substantial. Banks will play a key role in enabling both a low-carbon future and in funding infrastructure that will limit the impact of adverse weather patterns. We are actively looking for commercial opportunities that are sustainable and have a positive environmental impact.
Investec funds Soitec to build solar plant
In a continuous effort to reduce our environmental footprint, Investec continues to look for sustainable commercial opportunities that have a positive impact on the environment. Investec has financed Soitec, a manufacturer of semiconductors and solar products, in one of the largest projects using concentrated solar photovoltaic technology which converts sunlight into electricity. An unusual project of this magnitude, being financed so quickly in an emerging economy is a positive step for South Africa and Soitec.
COP17
The 17th United Nations Climate Change Conference (COP17) took place in Durban, South Africa, at the end of 2011. This annual conference brings together governments, international organisations and civil society to discuss the implementation of concrete measures to combat the complex problem of climate change.
Investec, together with the National Business Initiative, hosted a breakfast on Monday 30 January 2012, as a platform to explore the nuances and outcomes of Durban’s negotiations. David Lawrence (Deputy Chairman, Investec) opened the event followed by the Ambassador Nozipho Mxakato-Diseko (Ambassador-at-Large for Climate Change) and Joanne Yawitch (CEO, National Business Initiative) who debriefed about 150 delegates from the press, local government and business on COP17 and the implications for the national economy and business strategy.
For more detailed feedback on the Durban Climate Change Conference, please refer to the United Nations Framework Convention on Climate Change website http://unfccc.int/2860.php
Climate change research
Investec Asset Management has undertaken research on the impact of climate change on shareholder value in South Africa. This research was launched recently and assesses the principal risks and opportunities that climate change presents for 11 sectors in the South African economy. It presents a general approach aimed at assisting investors to assess the value associated with climate change and with environmental, social and governance issues more broadly.
Facility to support SA’s green economy
Investec Capital Markets announced its partnership with the European Investment Bank to establish a EUR100 million renewable energy funding facility to support South Africa’s growing green economy. The programme will promote clean energy generation and energy efficiency initiatives in South Africa in line with the government’s recent Green Economy Accord. Investec and the EIB are equal partners in the programme with each contributing EUR50 million.