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3 3 Business in the green global economy Godwell Nhamo and Nedson Pophiwa 1 INTRODUCTION The writing is on the wall. The issue of a green (including low carbon) economy has found its way into many boardrooms and has since taken up residence there. This is in response to the greatest challenge humanity faces today – climate change. To this end, many corporates have prioritised the need to address the negative impacts associated with climate change and have put in place mechanisms to maximise opportunities that the phenomenon presents. It is now ‘business unusual’ and it will remain so well into the future. This book documents efforts made by corporate South Africa to address and move towards the green economy, that also inherently forces low carbon transition. Corporate South Africa mainly refers to South African companies. The publication stands out as one of many flagships and legacy projects driven by South Africa’s hosting of the 17th Session of the Conference of Parties (COP17) in 2011 as part of the United Nations Framework Convention on Climate Change (UNFCCC). The COP17 hosted in Durban is remembered for solidifying most of COP16’s Cancun Agreements, especially drawing up the governance mechanism of the Green Climate Fund. The embracing of the green economy by many corporates today links directly to increasing awareness relating to general environmental responsibility and, specifically, the climate change agenda.1 DRIVERS TOWARDS GREEN ECONOMY TRANSITION Three phases in mapping the transition to a green economy can be identified: the preGreen Economy Phase (up to 2007); the Green Economy Transition Phase (2008–2009); and the Green Economy Phase (2010 onwards). This understanding is portrayed in Table 1.1. Since there is such a diverse range of drivers towards South Africa’s transition Chapter 1 4 to a green economy at both global and national levels, this chapter will focus on covering selected drivers at the international level. Selected national drivers will be dealt with in more depth in Chapter 2. As reflected in Table 1.1, international drivers for the green economy include: the Vienna Convention for the Protection of the Ozone Layer; Montreal Protocol on Substances that Deplete the Ozone Layer (as adjusted and amended in 1990); the UNFCCC, Kyoto Protocol; GHG Protocol; the ISO 14064; Copenhagen Accord; Green Stimulus Packages; the United Nations Environment Programme’s (UNEP) Green Economy Initiative; Cancun Agreements; UN International Year of Sustainable Development and the COP17/CMP7 decisions. These and other landmark drivers will be briefly considered in the following paragraphs. The Vienna Convention for the Protection of the Ozone Layer (which was adopted in 1985, and entered into force in 1988) aims firstly to protect human health and the environment against adverse effects resulting from human activities, and secondly to cooperate for better understanding of harmful substances to the Ozone Layer.2 In order to protect human health and the environment from human activities that modify or are likely to modify the ozone layer, the Treaty urges the parties to take appropriate measures in accordance with the provisions in the Convention and its Protocols that are in force for that party. Table 1.1 Drivers in South Africa’s transition to a green economy Scale/Typology of Green Economy Transition Driver Pre-Green Economy Phase (up to 2007) Green Economy Transition Phase (2008–2009) Green Economy Phase (2010 onwards) Global Level t 7JFOOB$POWFOUJPO GPSUIF1SPUFDUJPOPG UIF0[POF-BZFS t .POUSFBM1SPUPDPM PO4VCTUBODFTUIBU %FQMFUFUIF0[POF-BZFS PG BTBEKVTUFE BOEBNFOEFEJO t 6/'SBNFXPSL $POWFOUJPOPO$MJNBUF $IBOHF 6/'$$$ t ,ZPUP1SPUPDPM t (SFFOIPVTF (BT1SPUPDPM t 3BUJöDBUJPOPG UIF,ZPUP1SPUPDPM t *40 'PS(SFFOIPVTF (BT"DDPVOUJOH BOE7FSJöDBUJPO t #BMJ3PBE.BQ t $PQFOIBHFO "DDPSEBOE (SFFOIPVTF(BT &NJTTJPOT1MFEHFT t (SFFO 4UJNVMVT1BDLBHFT t 6/&1(SFFO &DPOPNZ*OJUJBUJWF t (SFFO$MJNBUF 'VOE1MFEHFT t $BODVO"HSFFNFOUT t 5IF$BSCPO /FVUSBM1SPUPDPM t 6/*OUFSOBUJPOBM:FBSPG TVTUBJOBCMF&OFSHZGPS"MM t $01$.1 t 3JP  XJUIB UIFNBUJDGPDVTPOHSFFO FDPOPNZJOUIFDPOUFYUPG TVTUBJOBCMFEFWFMPQNFOU t $01$.1 [3.17.150.163] Project MUSE (2024-04-23 18:36 GMT) Business in the green global economy 5 Scale/Typology of Green Economy Transition Driver Pre-Green Economy Phase (up to 2007) Green Economy Transition Phase (2008–2009) Green Economy Phase (2010 onwards) /BUJPOBM Level $PNNBOE BOE$POUSPM t 3BUJöDBUJPO PGUIF6/'$$$ t 3BUJöDBUJPOPG UIF,ZPUP1SPUPDPM t /BUJPOBM $MJNBUF$IBOHF 3FTQPOTF...

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