Greening the economy : a case study to identify a different approach to encourage sustainability

Abstract

Climate change is a reality. It is evident in the changes in the weather patterns and the consequences thereof. The South African government seems to be committed to sustainability and has a number of market instruments in place to reach the targets that were set at the Kyoto Protocol. However, considerable transformation is needed to change the behaviour of businesses, to green the economy and to encourage sustainability.

This study examined the different market instruments available by the government to promote/enforce sustainability. It came in the form of environmental taxes and incentives. The aim was to understand the mechanism behind these instruments by reviewing other literature. A conclusion was reached that neither would drive the change that is required to address the problem of sustainable behaviour of businesses.

A local listed company was selected and researched to identify ways in which the business uses by-products in a resourceful way that is both good profitability as well as the environment.

The study was extended to a similar foreign company and further innovative ways of greening the economy were identified.

A conclusion was reached that greening the economy can be economically viable as well as sustainable.