Cape Town - The Western Cape Industrial Symbiosis Programme (WISP) that is managed by City business partner, GreenCape, generated a massive R67,9 million towards Cape Town’s green economy in an initiative that identifies and explores viable business opportunities within the city.
The Western Cape Industrial Symbiosis Programme (WISP), a multiple award-winning free facilitation service to businesses, is managed by GreenCape, a business partner of the City of Cape Town.
James Vos, Mayoral Committee Member for Economic Opportunities and Asset Management conducted a site visit earlier on Wednesday to the manufacturing plant of Sealand Gear, a participant of the WISP initiative in Woodstock. Sealand Gear is a is a specialised bag and apparel manufacturing company that makes use of recycled and upcycled materials.
"I am pleased to announce the phenomenal financial benefits that the WISP initiative has generated for Cape Town’s green economy. The additional revenue generated by these businesses totalled R34,6 million, calculated on cost savings of R24,8 million and private investments of R8,54 million. The WISP programme has proven to be a lucrative one, as for every R1 that the City invested, R7 is returned as direct financial benefits," said Vos.
WISP facilitators provide businesses with technical expertise by connecting them with unused or residual resources such as materials, energy, water, assets and logistics. Through the sharing of resources, businesses are able to:
- Contribute to the growth of the economy
- Cut costs and increase profit
- Improve their business processes
- Create new revenue streams
- Learn from us and each other
- Operate more sustainably
"This is a programme that we are particularly proud of, as it operates at the direct company interface with waste management. It helps manufacturing companies to increase competitiveness while reducing the burden on the environment," said Mike Mulcahy, CEO for GreenCape.
Furthermore, 36 600 tons of waste is diverted from landfills with an estimated fossil greenhouse gas saving of 147 700 tons CO2e (equivalent to the annual electricity usage of 39 800 South African households).
"We realise the important role that the green economy plays to build a sustainable city. Through the City’s partnership with GreenCape, it can identify and explore economically viable opportunities in the green economy. It is necessary for the City to accelerate progress towards sustainable development and poverty reduction through creating more sustainable uses of natural resources," said Vos.@TheCapeArgus