Invest in Climate Secure Cape Town Series: Episode 2

Episode Overview:

Cape Town is a thriving green economy innovation hub. The city includes and is surrounded by a range of role players actively participating in green innovation and climate resilience. Cape Town is a hub for green businesses, from renewable energy to sustainable tourism. The city has built a supportive ecosystem and offers access to a growing local market. Cape Town's universities, research institutions, and private sector are driving cutting-edge solutions in cleantech.

This episode is part of the "Invest in climate secure Cape Town series", a two-part series supported by the City of Cape Town Department of Enterprise & Investment, produced in partnership with City of Cape Town Risk and Resilience Department in the Future Planning and Resilience Directorate and GreenCape, featuring Alderman James Vos, Mayoral Committee Member for Economic Growth at City of Cape Town.

Summary of Key Points:

• Climate Leadership and Resilience:

  • Cape Town is globally acknowledged for its proactive climate change strategies.
  • The city is committed to building climate resilience and fostering a green economy.
    
    

• Green Economy Hub:

  • Cape Town is a hub for green businesses, including renewable energy and sustainable tourism.
  • The city provides a supportive ecosystem with access to a growing local market.
    
    

• Key Players and Initiatives:

  • Public sector, Green Cape, Atlantis Special Economic Zone, and educational institutions like UCT and UWC play crucial roles.
  • Institutions drive innovations in clean tech and renewable energy.
    
    

• Economic Development Efforts:

  • The City supports green economy businesses through investment attraction, skills development programs, and research.
  • Significant projects include supporting the Atlantis Special Economic Zone and funding Green Cape.
    
    

• Innovative Projects and Achievements:

  • Over 80% of large-scale renewable energy projects in South Africa are developed by companies with offices in Cape Town.
  • Cape Town leads initiatives like buying excess solar PV power, launching a solar PV plant, and issuing energy trading RFIs.
    
    

• Future Plans and Goals:

  • The city aims to end load shedding, alleviate energy poverty, and optimize energy use by 2050.
  • Plans include transitioning to electric mobility, improving public transport, and achieving carbon neutrality by 2050.
    
    

• Resilience and Sustainability:

  • Cape Town's water strategy and climate action plan are key to its resilience.
  • The city received an A rating for climate action and transparency from the Carbon Disclosure Project.
    
    

• Challenges and Opportunities:

  • The city turned crises like droughts into opportunities for innovative solutions.
  • Investment in energy transition technologies could significantly boost Africa's GDP and create numerous jobs.

Alderman James Vos emphasizes the city's resilience, innovative thinking, and long-term commitment to a sustainable economy, positioning Cape Town as an attractive green economy investment destination.