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Green Economy Journal Issue 41

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SPECIAL REPORT<br />

Building<br />

it back<br />

BY Mary Anne Constable<br />

Better<br />

<strong>Green</strong> <strong>Economy</strong> <strong>Journal</strong> interviews various stakeholders across the built environment<br />

public and private sectors, questioning what a post-Covid-19 world might look like, and<br />

asking, how can we build it back better?<br />

Although the Covid-19 pandemic has temporarily crowded out<br />

the global climate agenda from the news, while also incidentally<br />

contributing to a decrease in global pollution, our need to create<br />

a low-carbon economy continues in full force. The built environment and<br />

property sectors have a huge role to play in driving this agenda forward.<br />

There is an opportunity afforded by the present crisis, to catalyse the<br />

transition to a resilient sustainable future, and to build things back better<br />

than before. We asked several stakeholders how Covid-19 might inform<br />

some of the decision-making along the value chain of design, construction<br />

and operation of buildings and infrastructure in South Africa.<br />

Photo by Ihsaan Haffejee<br />

DR. KGOSIENTSO RAMOKGOPA<br />

Head of Investment and Infrastructure Office, South African Presidency<br />

www.thepresidency.gov.za<br />

NATIONAL GOVERNMENT INVESTS IN INFRASTRUCTURE<br />

The significance of the Covid-19 pandemic on the economy of South<br />

Africa cannot be overstated. It represents a significant decline not just to<br />

the South African economy but to the world economy. It is also unique<br />

in that it is both a supply-side and demand-side shock. South Africa<br />

entered this challenging period in a weakened position with limited fiscal<br />

headspace due to the technical recession at the end of 2019 and the<br />

downgrade of our sovereign debt by Moody’s to sub-investment grade.<br />

As such a supply-side stimulus is required by government to get supply<br />

chains moving while encouraging localisation and job creation.<br />

Given South Africa’s limited fiscal headspace, the funding of the<br />

post-Covid recovery needs to crowd-in sources of funding from outside<br />

of government. This has led to engagements with the multilateral<br />

development banks, the development finance institutions, commercial<br />

banks, and infrastructure facing business organisations. They have<br />

indicated the need for an updated country infrastructure pipeline<br />

and have committed resources to the evaluation of said pipeline. This<br />

process will culminate in the Sustainable Infrastructure Development<br />

Alignment of the SIDSSA to the SDGs and the<br />

National Development Plan allows for South<br />

Africa to access a greater pool of<br />

liquidity and at preferential rates for the<br />

funding of the project pipeline.<br />

Symposium of South Africa (SIDSSA) on 23 June 2020. The ‘Sustainable’<br />

in SIDSSA refers to the need for the project pipeline to align with South<br />

Africa’s commitments in terms of the UN Sustainable Development<br />

Goals (SDGs).<br />

Alignment of the SIDSSA to the SDGs and the National Development<br />

Plan allows for South Africa to access a greater pool of liquidity and at<br />

preferential rates for the funding of the project pipeline.<br />

6 greeneconomy.media

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