Remgro chair Johann Rupert is supportive of companies increasing their environmental goals, but warns alternate energy cannot efficiently build South African industry and address its urgent electricity needs.
Responding to questions around the investment holding company’s strategy around environmental, social and governance issues at its AGM on Wednesday, the billionaire businessman, who also chairs Swiss luxury group Richemont, flagged that the political, social and economic realities of going green came at a cost.
Rupert, whose family is well-known for its conservation efforts in SA, said there was a"lot of greenwashing" going on, adding that he was"not quite sure that all the companies that sign up for science-based targets know exactly what all of these commitments entail".Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
_Business Review is looming
_Business
_Business nickhedley You seen this? Wonder why the guy who's company is heavily invested in mining and petroleum thinks green energy is bad. Honestly a mystery to me.
_Business What took you so long to address South African urgent electricity needs?
_Business Rupert must fokof asizozwa ngaye his nothing but WMC ramaposa handler's
_Business What took you so long to rehearse this gospel,
_Business Perhaps because it's him, they will listen