Finance: New Clinton Climate to Present Economic Strategies for Growt
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To reduce the net greenhouse gas emissions of their Climate Positive Development projects to below zero, property developers and local governments will agree to work in partnership on specific areas of activity. This includes implementing economically viable innovations in buildings, the generation of clean energy, waste management, water management, and transportation and outdoor lighting systems.
Last year, for the first time, half the world’s population (3.2 billion people) lived in cities, and that figure is expected to grow to 70 percent by 2050. Cities also occupy just 2 percent of the world’s landmass, yet are responsible for more than two-thirds of global energy use and greenhouse gas emissions. How cities change and grow is therefore a critical component to tackling the climate crisis.
“The City of Johannesburg welcomes the opportunity to promote a new and more sustainable building development paradigm in South Africa,” said Johannesburg Councillor Prema Naidoo, Member of Mayoral Committee, Environment. “The city is looking forward to working with Old Mutual and in expanding its existing partnership with the Clinton Climate Initiative. The Climate Positive Development Programme is an innovative and integrated way to achieve the City’s new policy on energy efficiency and resource sustainability in urban development at a faster and larger scale than would have been possible.”
Zonk’izizwe (meaning ‘all nations’) Town Center transforms one of the last remaining vacant sites in its location, into a one-of-a-kind mixed-use destination. Situated midway between Johannesburg (the economic hub of Africa) and Pretoria (the capital of South Africa), it will be developed as a new town centre, connecting these two populous and fast- growing cities. Zonk’izizwe development is situated within the Gauteng region, which is responsible for approximately 35% of country’s GDP and 10% of Africa and is central to the node that has shown an average annual growth of 12.8% since 1996. It is located adjacent to the Grand Central Airport, as well as a major national highway, and will also incorporate the new rapid rail link station.
The design, which embraces sustainable development and “green” building principles, sets a new standard for the future of eco-friendly South African developments. This flagship development aims to reduce vehicle-use by the careful placing of buildings to provide access to public transportation, bicycle paths, the lake and walking access to basic services, in order to minimize environmental impact. The shopping precinct, anchored by major retailers, will be in the heart of the new town centre and with its offering, will aim to serve the broader province and beyond. The development also responds to the government’s call for densification, thereby arresting the urban spread that has increased congestion and made service delivery difficult for local government.
Brent Wiltshire, Executive for Property Development at Old Mutual Investment Group, Property Investments, said, “We are proud to be associated with the Clinton Climate Initiative and, with the support of City of Johannesburg, will provide leadership in creating sustainable urban developments in Africa and beyond. The vision for the Zonk'izizwe new town centre and the green initiatives and benchmarks that will be pioneered for this project will aim to meet the demands and expectations of future generations.”
By combining CCI's business and finance expertise with the technical knowledge of the USGBC, the Climate Positive Development Program will support the planning and implementation process for each real estate development and establish the standards and metrics by which the sites can measure climate positive outcomes.
When the initial 16 projects are completed, nearly one million people will live and work in Climate Positive communities. These communities will be located in Melbourne, Australia; Palhoca, Brazil; Toronto, Canada; Victoria, Canada; Ahmedabad, India; Jaipur, India; outside Panama City, Panama; Pretoria, South Africa; Johannesburg, South Africa; Seoul, South Korea; Stockholm, Sweden; London, UK; San Francisco, USA and Destiny Florida, USA.
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