The green financing market is gaining traction in South Africa,
says law firm ENSafrica natural resources and environment senior
associate Mihlali Sitefane.
Green financing promotes the funding of projects that contribute
to sustainable development by requiring the integration of social,
economic and environmental factors in the planning and
implementation of projects, she explains.
Amid the mining industry's unique environmental and social
impacts, and the increasing effects of climate change, financial
institutions have reviewed their role in facilitating sustainable
development as well as re-evaluated criteria for investment
decisions.
Consequently, environmental, social and corporate governance
initiatives are increasing, driven by certain lenders integrating
and implementing requirements pertaining to the long-term
environmental prospects of the projects that they finance. These
lenders include commercial institution the Bank of China,
State-owned finance
