South Africa : Zonk' izizwe Town Center selected for Climate Positive Development Program
New Clinton Climate Initiative program to demonstrate economic, environmental strategies for sustainable urban growth
May 19, 2009 - (Johannesburg, South Africa) - The Zonk'izizwe Town Center was announced today as one among 16 founding projects of the Climate Positive Development Program, a Clinton Climate Initiative (CCI) program that will support the development of large-scale urban projects that demonstrate cities can grow in ways that are "climate positive." Climate Positive real estate developments will strive to reduce the amount of on-site CO2 emissions to below zero.
The Climate Positive Development Program was launched by President Clinton, Founder of the William J. Clinton Foundation, on May 19, 2009, at the C40 Summit in Seoul, South Korea. Along with the other founding projects, Zonk'izizwe Town Center will demonstrate Climate Positive strategies, setting a compelling environmental and economic example for cities to follow.
To reduce the net greenhouse gas emissions of their Climate Positive Development projects to below zero, property developers and local governments will agree to work in partnership on specific areas of activity. This includes implementing economically viable innovations in buildings, the generation of clean energy, waste management, water management, and transportation and outdoor lighting systems.
Last year, for the first time, half the world's population (3.2 billion people) lived in cities, and that figure is expected to grow to 70 percent by 2050. Cities also occupy just 2 percent of the world's landmass, yet are responsible for more than two-thirds of global energy use and greenhouse gas emissions. How cities change and grow is therefore a critical component to tackling the climate crisis.
"The City of Johannesburg welcomes the opportunity to promote a new and more sustainable building development paradigm in South Africa," said Johannesburg Councillor Prema Naidoo, Member of Mayoral Committee, Environment. "The city is looking forward to working with Old Mutual and in expanding its existing partnership with the Clinton Climate Initiative. The Climate Positive Development Programme is an innovative and integrated way to achieve the City's new policy on energy efficiency and resource sustainability in urban development at a faster and larger scale than would have been possible."
Zonk'izizwe (meaning 'all nations') Town Center transforms one of the last remaining vacant sites in its location, into a one-of-a-kind mixed-use destination. Situated midway between Johannesburg (the economic hub of Africa) and Pretoria (the capital of South Africa), it will be developed as a new town centre, connecting these two populous and fast- growing cities. Zonk'izizwe development is situated within the Gauteng region, which is responsible for approximately 35% of country's GDP and 10% of Africa and is central to the node that has shown an average annual growth of 12.8% since 1996. It is located adjacent to the Grand Central Airport, as well as a major national highway, and will also incorporate the new rapid rail link station.
The design, which embraces sustainable development and "green" building principles, sets a new standard for the future of eco-friendly South African developments. This flagship development aims to reduce vehicle-use by the careful placing of buildings to provide access to public transportation, bicycle paths, the lake and walking access to basic services, in order to minimize environmental impact. The shopping precinct, anchored by major retailers, will be in the heart of the new town centre and with its offering, will aim to serve the broader province and beyond. The development also responds to the government's call for densification, thereby arresting the urban spread that has increased congestion and made service delivery difficult for local government.
Brent Wiltshire, Executive for Property Development at Old Mutual Investment Group, Property Investments, said, "We are proud to be associated with the Clinton Climate Initiative and, with the support of City of Johannesburg, will provide leadership in creating sustainable urban developments in Africa and beyond. The vision for the Zonk'izizwe new town centre and the green initiatives and benchmarks that will be pioneered for this project will aim to meet the demands and expectations of future generations."
By combining CCI's business and finance expertise with the technical knowledge of the USGBC, the Climate Positive Development Program will support the planning and implementation process for each real estate development and establish the standards and metrics by which the sites can measure climate positive outcomes.
When the initial 16 projects are completed, nearly one million people will live and work in Climate Positive communities. These communities will be located in Melbourne, Australia; Palhoca, Brazil; Toronto, Canada; Victoria, Canada; Ahmedabad, India; Jaipur, India; outside Panama City, Panama; Pretoria, South Africa; Johannesburg, South Africa; Seoul, South Korea; Stockholm, Sweden; London, UK; San Francisco, USA and Destiny Florida, USA.
About the Clinton Climate Initiative
The William J. Clinton Foundation launched the Clinton Climate Initiative (CCI) to create and advance solutions to the core issues driving climate change. Working with governments and businesses around the world to tailor local solutions that are economically and environmentally sustainable, CCI focuses on three strategic program areas: increasing energy efficiency in cities, catalyzing the large-scale supply of clean energy, and working to measure and value the carbon absorbed by forests. In each of these programs, CCI uses a holistic approach to address the major sources of greenhouse gas emissions and the people, policies, and practices that impact them. CCI serves as the action arm of the C40, an association of large cities around the world that have pledged to accelerate their efforts to reduce greenhouse gas emissions. To learn more about the work of the Clinton Climate Initiative and the William J. Clinton Foundation, please visit http://www.clintonfoundation.org
About Old Mutual Investment Group Property Investments
Old Mutual Investment Group Property Investments is one of 12-peformance driven, autonomous investment businesses within Old Mutual Investment Group SA (OMIGSA). Old Mutual Property Investments is focused on delivering investment performance, growing assets under management, sourcing and developing investment opportunities, and extracting value from the properties.
As property asset managers, we strive to give real estate its rightful place as a respected asset class and offer a wide range of real estate investment solutions. These include our unlisted Triangle Real Estate Funds - being our Core Fund, our Development Fund and our India Fund, which we established to cater for the institutional retirement and pension fund markets. In the listed sector, we manage SA Corporate Real Estate Fund, South Africa's third largest listed property fund, and Oryx Properties Ltd, on the Namibian Stock Exchange.
Old Mutual Property Investments is a founding member and sponsor of the Green Building Council of South Africa, formed to promote environmentally sustainable practices in the commercial and industrial property industry.