NEWS ROUND-UP
SUSTAINABILITY NEWS FROM AROUND THE WORLD South African plastics industry signs treaty The local plastics industry has signed an international, legally binding agreement to end plastic pollution by 2024. The resolution – titled ‘End Plastic Pollution: Towards an internationally legally binding instrument’ – is described as a landmark agreement that is the most important international multilateral environmental deal since the Paris Climate Accords. The signing took place at the fifth session of the UN Environment Assembly (UNEA-5.2) alongside heads of state, ministers of environment and other representatives from 175 nations. Its purpose is to drastically reduce the impact of plastic pollution on the marine environment by exploring the full life cycle of plastic from source to sea – which includes methods of plastic production, recycling, processing, use and collection.
SANDF takes green leap with biogas project The South African National Defence Force (SANDF) is taking its ‘green soldiering’ environmental concept a step fur ther by installing biogas plants at two of its militar y bases. With the suppor t of the South African National Energy Development Institute (Sanedi), the SANDF has had the biogas stoves set to be in full operation in 2023. This will enable the militar y to use gas to cook meals for about 220 people daily at its bases in Limpopo, instead of using fossil fuels, as was previously the case. The biogas project is one of several waste recycling and energysaving programmes under taken by the SANDF in par tnership with Sanedi. Sanedi asser ts that, by finding a more responsible way of disposing of its kitchen biological waste, the SANDF has taken the first step towards implementing renewable energy while also removing a waste challenge – with the added benefit that the biodigesters produce a liquid fer tiliser that can be used in fer tilising gardens for food or ornamental production. The militar y implemented this technology as a pilot project to prove the concept could help it with waste removal and energy generation.
Woolworths and Standard Bank’s R600 million sustainability funding deal Standard Bank has partnered with Woolworths Holdings Limited to conclude the first sustainability-linked working capital facility in South Africa to the value of R600 million. This partnership is a testament to Woolworths’ commitment to achieving bold sustainability targets and realising its vision to be one of the world’s most responsible retailers. As sustainability-linked funding ties the terms of funding to ESG outcomes, it supports and incentivises responsible corporate behaviour and the creation of shared value. The financing structure is also very strongly aligned to Standard Bank’s own Social, Economic and Environmental impact framework. In this second sustainability-linked deal concluded with Standard Bank, the bank stepped in as the lender and sustainability coordinator to support Woolworths’ drive to ensure responsible environmental resource management of key agreed-on sustainability performance indicators. These included Woolworths food, private-label fashion, beauty and home goods, as well as electricity consumption in corporate stores.
