The sharp and long tail of KwaZulu-Natal’s flood disaster has revealed SA’s vulnerability to climate, health and infrastructure disasters in sharp relief. As plans and budgets to rebuild trickle towards fruition, now is the time to deliberately break away from short-term financing to longer-term and sustainable finance to future-proof against the disasters and risks to come.
Much has been said in boardrooms and management tomes about progressively screening investments and projects based on their ESG risk profile. But few people and businesses truly understand and apply these daily. The truth is that most projects, especially with high-risk socioeconomic and political profiles and subinvestment grades such as SA’s, remain vulnerable to short-term thinking.
Several parts of Durban, especially the port at the heart of its economic hub, somehow continue to operate under extreme constraint following devastating flood damage. Industry stakeholders across several sectors have indicated that water and other infrastructure has been woefully insufficient and poorly maintained for many years. This lack of sustainable planning is causing millions of rand of industry losses, simply because there is no reliable running water.
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