Faculty of Commerce, Law and Management (ETDs)

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Incorporating sustainability into development plans in selected African cities
(University of the Witwatersrand, Johannesburg, 2024) Gaegane, Lesego; Stacey, Anthony
Cities have the task of delivering critical services to residents with limited financial resources while challenged by the effects of climate change. African cities are vulnerable to floods, and water and energy insecurity due to insufficient capacity and poor infrastructure for stormwater drainage. Furthermore, environmental sustainability projects cannot be successfully implemented by cities unless they are systematically integrated into their operations and management. According to recent reports, two-thirds of the cities in sub-Saharan Africa are categorized as "at extreme risk" of experiencing the impacts of climate change. This poses a serious threat to crucial local infrastructure and systems required for development. Mitigation and adaptation to climate change cannot be addressed through a single economic sector as it has impacts across the board on all aspects of social and economic development. In addition, development without consideration of environmental sustainability can sometimes increase climate change vulnerability. Hence there is a need to mainstream environmental sustainability into all development policies, programmes, and plans. This research study evaluated the way in which selected African cities had incorporated environmental sustainability into their development plans and evaluated their success and challenges. The research study employed a qualitative approach that entailed thematic content analysis and used the OECD mainstreaming framework to assess the extent of integration of environmental sustainability considerations into development plans. To assess the level of integration of environmental sustainability into the development plans for the selected cities, five categories were used. These five categories were based on the literature review and the OECD mainstreaming framework. The categories were: 1) address environmental concerns through projects and programmes in the development plan; 2) allocate resources to environmental sustainability projects, either through the municipal budget or external funding; 3) implement environmental sustainability projects and programmes; 4) inform and influence decision- makers through awareness-raising, stakeholder engagement, and meetings; and 5) monitor and evaluate the impact of implemented projects and programmes. The research findings show that a number of the selected African cities have been more successful than others in incorporating some dimensions required for mainstreaming ii iii environmental sustainability into their development plans. Additionally, the findings suggest that there are impediments to incorporating environmental sustainability into development plans, but when the identified enablers are present, this incorporation can be more effective and successful. Overall, the research findings indicate that some dimensions required for environmental sustainability mainstreaming are weakly included while others are effectively incorporated into development plans by the selected cities.
Sustainability assurance: Insights into assured sustainability-related information of the Top 100 companies listed on the ASX and JPX
(University of the Witwatersrand, Johannesburg, 2024) Nkosi, Nompumelelo Lizette; Cerbone, Dannielle
There is a lack of consensus and ambiguity on the currently adopted standards on sustainability and the assurance thereof which has led to variations in the subject matter assured, criteria used, and the type of assurance provided. This study aims to broaden the extant body of literature related to the assurance of sustainability-related information and provide new insights that can guide future research. The study aims to investigate the sustainability-related assurance practices and reports for the top 100 companies listed on the Australian Stock Exchange (ASX) and the Japan Stock Exchange (JPX). Data was collected for 113 companies (52 companies for ASX and 61 companies for JPX). A content analysis of the audit report and the sustainability-related information reports was used to collect data based on a disclosure checklist. The data was analysed and reported on using descriptive statistics and inferential statistics. Based on the results from the statistics performed, it was noted that there is a difference in the number of subject matter items assured in a category however there is congruence in the subject matter items. This provides evidence of mimetic isomorphism and highlights how companies are using specific subject matter items as an important signal to the market to indicate the credibility of the sustainability reports. Albeit the majority of the assurance provided are limited assurance engagements, some subject matter characteristics should preclude assurance. This finding supports prior research that non- financial assurance engagements do not provide sufficient value to the stakeholders. In addition, it was found that there is variability in the assurance providers based on jurisdiction with financial auditors (traditional auditors) found to be dominate in the ASX and sustainability auditors gaining ground in the JPX. Sustainability auditors could add to the complexity and confusion of the assurance process due to being less likely to have professional training on assurance which allows the engagement of financial auditors by companies to be a signal for stakeholders.
Climate Change in South Africa: Is there a disproportionate effect on poorer municipalities?
(University of the Witwatersrand, Johannesburg, 2024) Motselebane, Itheheleng Imelda; Kutela, Dambala
Climate change represents a profound and escalating challenge, disproportionately burdening the world's most vulnerable populations. The complex relationship between poverty and climate change is increasingly recognized, however, much of the existing research has concentrated on national or global scales, often overlooking the detailed, specific effects on smaller, more localized areas, such as individual municipalities within a country. This study seeks to bridge this gap by focusing on the municipal level in South Africa, a country marked by stark socio-economic inequalities and pronounced climate vulnerabilities. Utilizing a panel dataset from 234 municipalities, based on the 2011 municipal boundaries, this research employs a fixed-effects model to examine how climate shocks influence poverty dynamics across different socio-economic contexts. The findings reveal a significant divergence in the impact of climate shocks, with the poorest municipalities experiencing a markedly higher increase in poverty rates compared to their wealthier counterparts. This heightened vulnerability underscores the limited adaptive capacity of these communities, exacerbated by their dependence on climate-sensitive sectors and a lack of diversified economic opportunities. The findings underscore the importance of spatially differentiated climate adaptation strategies that are not only responsive to the immediate needs of the most vulnerable but also address the underlying structural inequalities that perpetuate their susceptibility to climate-induced economic shocks. Moreover, this research contributes to the broader discourse on climate justice, offering critical insights into the mechanisms through which climate change amplifies existing socio-economic disparities. The implications extend globally, providing a foundation for policy interventions that prioritize the protection and empowerment of the most disadvantaged communities in the face of an increasingly volatile climate.
The Societal Perspective of Postgraduate students at the Wits Business School towards the Just Energy Transition in South Africa
(University of the Witwatersrand, Johannesburg, 2024) Milanzi, Maria-Salome Gaudence
The purpose of this research is to explore postgraduate students; understanding of the Just Energy Transition (JET) in South Africa in order to uncover key areas of consideration from society’s point of view and their suggestions for implementation. The qualitative study followed an interpretive approach, interviewing twenty-one (21) postgraduate students at Wits Business School. The data was analysed through coding, from which themes were derived. The qualitative study identified concerns about the social impact of the transition, especially on vulnerable groups like the poor and workers in the coal industry. The findings highlight the need for strategies that address the impact on these groups, while also considering crucial factors like poor governance, unemployment, and electricity affordability. A phased approach with an initial focus on cleaner coal technologies and strong stakeholder engagement is recommended. The study also suggests recommendations for both the government and individuals. The government should rebuild trust, invest in cleaner energy sources while utilizing existing resources responsibly, and promote job creation through localization. Individuals are encouraged to educate themselves about the JET and its benefits. Ultimately, the research emphasizes the importance of socially just and inclusive approaches to ensure a successful and sustainable energy transition in South Africa.
Multidimensional measure of energy poverty in Lesotho
(University of the Witwatersrand, Johannesburg, 2024) Lehema, Nthati ‘Mabatho; Ye, Yuxiang
This study employs the Alkire-Foster methodology to assess multidimensional energy poverty in Lesotho, using data from the Household Energy Consumption Survey in Lesotho. The investigation considers three dimensions, cooking, lighting, and water heating in constructing the multidimensional energy poverty index. In terms of the three dimensions, the overall findings indicate that at the national level, approximately 61% of the households experience multidimensional energy poverty. Upon decomposing the Multidimensional Energy Poverty Index (MEPI) by the settlement type, the results indicate that 83.50% of the households in rural areas are multidimensionally energy poor while 51.20% of the peri-urban households are deprived. In the urban areas, only 19% of the households experience energy poverty. In decomposing the MEPI by the gender of the household head, the results demonstrate that around 59.40% of female-headed households exhibit multidimensional energy poverty than their male-headed counterparts with 54.40%, with an average intensity of 91% of the weighted indicators. Decomposition by districts reveals that Butha-Buthe, Mokhotlong, Qacha, and Thaba-Tseka have over 80% of the multidimensionally poor households. Additionally, the study highlights the prevalence of traditional cooking fuels in rural areas, with minimal reliance on electricity. This pattern shifts with urbanization, where traditional fuel consumption decreases.
An Ecofeminist Approach to Understanding Deficiencies in the Mining Regulatory Framework in South Africa
(University of the Witwatersrand, Johannesburg, 2024) Malindi, Zanele; Meyersfeld, Bonita
Black women in rural areas of South Africa experience the harm in mining-affected communities more than other groups. This research report examines the legislative causes of this unequal distribution of harm. This report undertakes an analysis of the regulatory framework governing mining using the storytelling of two black, eco-activists in South Africa as the research methodology and ecofeminism as the theoretical premise to analyse and critique this framework. The issues of exclusion, limited participation, self-determination, violence, land rights, and legislative challenges are elucidated through the compelling stories of these two women and their legal battles in the pursuit of justice. Introducing ecofeminism as a theoretical framework, the paper underscores the shared oppression experienced by women and nature within patriarchal societies, advocating for the integration of ecofeminist principles into decision- making and legislative processes. In its conclusion, the paper calls for legislative reform, exposing the disparities between existing frameworks and the harsh realities faced by women, especially in environmental activism. Accentuating the pivotal role of women’s active participation and public engagement, it proposes these as essential steps towards a more equitable and sustainable future. The convergence of ecofeminist principles, inclusive decision-making, and public participation is presented not only as a moral imperative but also as a pragmatic necessity for addressing the intricate challenges posed by environmental degradation and gender-based discrimination.
Dynamic spillovers between clean energy stocks and fossil fuels: The role of climate policy uncertainty and geopolitical risk
(University of the Witwatersrand, Johannesburg Date of Issue *, 2024) Mubaiwa, Darren Tinotenda; Fasanya, Ismail O.
Clean energy stocks have emerged as a means for environmentally conscious investors to support and foster the growth of companies that are involved in the green energy sector. However, given the entrenched place that non-green energy still holds, investors must contend with the reality that these clean energy stocks may be connected to fossil fuels. Therefore, the study applies the TVP-VAR model to analyze the volatility spillovers among these markets. Our empirical analyses demonstrate that there is strong connectedness between clean energy stocks and fossil fuels. Notwithstanding, we observe that the spillovers among fossil fuels (crude oil, diesel, jet fuel etc.) are stronger than the intermarket spillovers between these energy commodities and the clean energy stock market. We then proceed to examine the effect of climate policy uncertainty and geopolitical risk on these spillovers. Using the causality-in- quantiles technique of Balcilar et al. (2016), we find that both climate policy uncertainty and geopolitical risk have a formidable impact on clean energy stock and fossil fuel intermarket spillovers. Moreover, using the Quantile-on-Quantile regression approach of Sim and Zhou (2015), we find that climate policy uncertainty and geopolitical risk have heterogeneous effects across the distribution of the clean energy stock and fossil fuel spillover nexus. These findings constitute important information for investors and policymakers.
Embracing technology to rejuvenate South African mining: a comparative case study analysis of a South African and an Australian mining firm
(University of the Witwatersrand, Johannesburg, 2024) Vink, Tarryn; Callaghan, Chris
It is well recognised that the mining industry is the historic bedrock of the South African economy. However, since 2000 the industry has shown signs of decline that include, inter alia, a slowdown in growth along with productivity issues. Since South Africa (SA) lags behind its global competitors in terms of technological innovation and implementation; many leaders in the mining industry are of the view that the increased use of technology will arrest this decline and restore the mining industry to a stronger position in the South African economy. What is, however, not fully understood is the extent to which technological change is contextually path dependent. This meaning that technological change in an industry is restricted by past events which enhance its resistance to change. This results in a lack of knowledge regarding how best to manage technological change. This would include understanding the most suitable implementation methods for certain contexts. The intention of this dissertation is to explain why firms in the South African mining industry lag behind their global competitors in terms of technological adoption. It aims to understand how differing contextual factors influence mining firms’ behavior, that, in turn, has an industry- level effect. It aims to understand how firms should manage this technology properly to optimise its interaction with its environment. Additionally, it aims to understand which theoretical approach, in relation to technological change, mining firms should follow to properly navigate their technological trajectories in light of contextual imperatives. The unit of analysis in this methodology is at the firm level. It takes specific contextual factors into account to determine which method of implementation is more appropriate for new technological advancements. This was executed by conducting two methodology phases. Phase 1 of the methodology which consisted of a holistic comparative case study analysis of a South African and an Australian mining firm. This study phase analysed archival documents that tracked changes in the responses of these mining firms over time. This was conducted using information from their financial statements and company reports, with the aim of investigating how these matched the government and environmental contexts seen in policy and country related documents. Phase 2 of the methodology comprised a qualitative analysis that used individual interviews in an attempt to develop useful insights that contextualise and support the findings of Phase 1. Various theoretical predictions have been derived in the form of propositions. The theory thus inductively developed has been used to answer some how and iii why questions about the strategic responses of firms to contextual imperatives. The study therefore produced a holistic analysis illustrating how each firm engaged with its respective contexts and how this may have resulted in path dependant relationships regarding technological innovation. The research emphasises that the South African mining industry's lag in technological adoption compared to global competitors could be attributed to an imbalanced innovation focus and a restrictive business context. It suggests that firms should address their technological and contextual needs separately to effectively manage innovation. The findings also stress that incremental improvements alone, are unlikely to enable a catch-up up with global leaders. Instead, radical interventions are necessary to shift the current trajectory toward one that prioritises productivity to achieve social objectives, enabling a plausible catch up.
Exploring Transnationalism in Ground-Breaking South African and Global North Climate Litigation
(University of the Witwatersrand, Johannesburg, 2024) Wadiwala, Zunaida Moosa
Climate litigation represents a way to battle against the worsening climate crisis. With a focus on the role of courts in transnational climate change litigation, evidence presented in this dissertation aims to uncover the scope and meaning of transnationalism in climate litigation, and to explore the system of transnational climate governance emerging from ground-breaking litigation. This dissertation proceeds from two objectives, the first of which examines how, if at all climate jurisprudence is transnational in character. Global climate litigation is a growing phenomenon, and this work analyses what the scope and meaning of transnationalism in climate litigation entails for a system of global climate governance. The second objective considers what the place of South Africa is in a system of transnational court-led governance; and how Global North judgments cognise the impacts of judgments in South Africa, if at all. To lay the groundwork for the development of a transnational analytical framework with which to reach answers to the objectives, the dissertation recognises differences in the definition of climate litigation and identifies claims that underpin transnational climate litigation. These claims include the human rights turn, the role of courts in climate governance, remedies and mitigation and adaptation-based climate litigation. Grappling with the concept of transnational climate litigation, the dissertation applies four theories of transnationalism to climate litigation, and themes from these theories enabled the development of a transnational analytical framework with which to analyse cases. The three South African cases used are Earthlife Africa Johannesburg v The Minister of Environmental Affairs and Other (Earthlife), Sustaining the Wild Coast NPC and Others v Minister of Mineral Resources and Energy and Others (Shell), South Durban Community Environmental Alliance and Another v Minister of Forestry, Fisheries and The Environment and Others (Eskom). Cases used from the Global North jurisdictions are The State of the Netherlands v Urgenda (Neth. Sup. CT) (Urgenda), Friends of the Earth Netherlands (Milieudefensie)et al v Royal Dutch Shell (Milieudefensie), and Neubauer et al v Germany (Neubauer). As the dissertation concludes, finding
The impact of climate change on the performance of banks in Southern Africa
(University of the Witwatersrand, Johannesburg, 2023) Ralebona, Phumudzo; Gwatidzo, Tendai
Using a sample of 12 countries from the SADC region, the study investigates the impact of climate change on the performance of commercial banks. The study this paper uses temperature and rainfall levels to measure climate change. Secondary data gathered through extraction of historical databases obtained from World Bank Development Indicators is used to deduce the relationship of these variables. The results suggest that climate change matters. The study finds that although there is a positive relationship between bank profitability and climate change, there is a threshold beyond which further increases in temperature and rainfall will adversely affect bank profitability. Also, banking sector concentration has a positive effect on banking profitability, while loan loss provisions and costs can erode profits if not managed properly. We also discover that there is no difference in how South Africa is affected by climate change compared to the rest of the SADC countries. A number of policy recommendations emanate from the study. First, it imperative for banks to begin to take into account climate change in the operational activities. Second, there is no country immune from the ravages of climate change. All countries in the SADC region must cooperate to address the serious challenges emanating from climate change. For example, the impact of climate for South African banks is not different to the banking sectors in other countries in the SADC region. Indeed, across most countries in the region natural disasters, such as droughts and floods, are becoming more frequent and also more devastating. Third, to address some of the challenges there is need to address the problems of, data scarcity and to use technology innovation to prevent natural disasters. These recommendations will equip the SADC region to be able to tackle the anticipated consequences of climate change on the financial institutions

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