Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Billions invested for green economy

Dec 04 2011 15:15 Sapa

Related Articles

Zuma calls for credible Cop17 outcome

SA, DRC to revive Inga power project

Zuma admits jobs target won't be met

Aurora directors may be subpoenaed

DA: President's new jet an extravagance

Sacci welcomes development plan

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print

Johannesburg - Government is to invest billions in mass transport systems as a way of "greening" the South African economy, President Jacob Zuma said on Sunday.

"By 2014, the state-owned commuter rail company, Prasa [Passenger Rail Agency of South Africa], will invest R20bn in new trains, most of which will be manufactured locally," said Zuma.

He was addressing the World Economic Forum Green Partnership Dialogue at COP17 in Durban.

This was part of government's New Growth Path which seeks to reduce emissions by focusing on renewable and nuclear energy, green transport and the built environment.

"Government will invest in mass-transport systems to reduce reliance on private cars. Initial steps have been taken on bus rapid transport and commuter rail," said Zuma.

Zuma said government would review its rail investment programme in order to accelerate the shift of freight transport to rail from road.

State-owned transport entity Transnet, will invest about R63bn in the freight rail system over the next five years, he said.

"For its part, organised business will continue to promote greater use of rail freight by companies."

Zuma stressed that the country's Green Economy Accord had a strong commitment to employing young people and those historically excluded from the economy.

"In particular, government and business have set a target of 80 percent youth amongst new employees in the manufacturing and installation of solar-water heating systems as well as government's public works programmes to green the economy," said Zuma.

He said it was imperative that poor communities did not end up footing the bill, whether through job losses or high prices.

Zuma said electricity utility, Eskom, and business would work to create technologies to reduce emissions from coal-fired plants.

The solar and wind energy industries in the country had made a target of creating 50 000 green jobs by 2020.

"Government will also support the installation of one million solar water heating systems by 2014 to 2015," said Zuma.

In the short run, green jobs would be created by services associated with cleaning up the environment, "especially recycling, cleaning public spaces, and controlling invasive species," said Zuma

Zuma said the New Growth Path "foresees that in the coming decades, at least a third of new electricity generation will come from renewable sources".

 
 
Comment on this story
6 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...