Our new website has launched, click here to visit.

Home / Media Centre

Coega Development Corporation
Coega Special Economic Zone
Coega Services
Media Centre
Coega puts the Sustainability Agenda at the forefront - published 19 Aug 2021

Coega puts the Sustainability Agenda at the forefront of driving Business Growth – organisation gears itself to appoint a Chief Sustainability Officer

Gqeberha, 19 August 2021 - The Coega Development Corporation (CDC) announced today that it plans to enhance its focus by establishing a new Sustainability Business Unit to drive sustainable growth of the Coega Special Economic Zone (SEZ) and External Services on the Infrastructure Delivery Programmes, which include operations in the rest of the African Continent. The Unit will be headed by a newly appointed Chief Sustainability Officer at executive level. As a player with a global outlook, the CDC seeks to position itself in a manner that provides it with the agility to respond to the complex global challenges and opportunities as they evolve and sees sustainability as one of the key focus areas.

The CDC has noted that global factors force companies to act, retain, regain, or sustain their competitive advantages for long-term survival and the CDC is embarking on this important journey to align itself. The global sustainable development agenda embodied in the United Nations Sustainable Development Goals (SDGs) is affecting strategic decisions and operations of businesses around the world. These are complemented by the South African government’s response following the signing of the Paris Agreement on climate change by the Minister of Environmental affairs in New York in 2016. The presidency has setup a Presidential Climate Change Coordinating Commission (P4C) with effect from 17 December 2020, to coordinate and oversee the just transition towards a low-carbon, inclusive, climate change resilient economy and society working towards a net zero economy by 2050. Furthermore, the CDC noted that the Presidency has also identified hyper-scaling of environmental, social, and governance investments to support social and green economy objectives as one of the five big frontier investments for South Africa. Therefore, as a company that is in a business of enabling investments, implementing infrastructure development solutions, and facilitating integration with other African countries through the African Continental Free Trade Area (AFTCTA), the CDC has to integrate in its approach and align to this agenda. Important to this alignment is the ability to anticipate and develop solutions that respond to the global environment and the evolving needs of its investors and clients while ensuring innovation and continuous improvement.

The CDC’s Executive Manager of Corporate Services, Mr. Bonginkosi Mthembu, highlighted that plans are afoot to establish a Sustainability Business Unit. The Chief Sustainability Offer responsible for corporate sustainability will be recruited soon, to advance the CDC’s objectives on this crucial task.

“The newly established Sustainability Business Unit will focus on the organization’s values and governance model and embrace the linkage between organisational strategy and its sustainability strategy. Moreover, the CDC’s Environmental, Social and Governance (ESG) will be incorporated into corporate purpose, strategy, goals, and remuneration of employees in line with the King Report on Governance for South Africa, Principle 3,” adds Mthembu.

Furthermore, the King Code for Responsible Investing in South Africa (CRISA) formally encourages institutional investors to integrate sustainability issues, such as ESG, into their investment decisions. “As a result, the CDC takes the ESG very seriously as it has a significant impact on investor sentiments and on our ability to grow the number and value of investors in the Coega Special Economic Zone,” says Mthembu.

“Sustainability will continue to be key to the CDC’s business, and success in this area will enable the organisation to make a significant impact in the economy in line with its vision of being a leading catalyst for championing socio-economic development. Therefore, the CDC needs agility and a full grasp of today’s complex eco-system in which it operates. We appreciate that today’s businesses deal with complex challenges of social, environmental, market, and technological trends, which require sophisticated, sustainability-based management solutions that go beyond the single view of focusing on projects but on ensuring that sustainability is embedded in all elements of the value chain,” concludes Mthembu.

Home | Media Centre | Newsletter | Tenders | Link | Contact us | Disclaimer | Copyright © 2021 Coega Development Corporation (Pty) Ltd
Useful Links »