Biodiversity underpins the functioning of the economic system. It provides the goods and services that sustain life such as food, water, building materials and the air we breathe. It serves as both a source of inputs to the economic system as well as a sink that absorbs waste from the system.
Despite the value provided by biodiversity, many of its goods and services are not formally traded and may not have market prices attached to them. As a result, these goods and services may be used in an unsustainable manner. Environmental regulation serves to manage these goods and services and provides guidelines as to how to maintain sustainable biodiverse systems in the absence of fully functioning markets.
The Western Cape Green Economy Strategy Framework aims to position the Western Cape as the lowest carbon province as well as optimising green economic opportunities while enhancing environmental performance. Growth in green investment and market
opportunities sit at the centre of this strategic framework, supported by five drivers: Smart living & working, Smart mobility, Smart ecosystems, Smart agri-production, and Smart enterprise. The third driver, “Smart Ecosystems”, speaks to aspects related to green infrastructure, ecosystem management and restoration, biodiversity management, mariculture, tourism, sustainable harvesting, conservation, education, research and human well-being.
Through the 110% Green website the Western Cape Government wants to achieve three core objectives:
- Foster market opportunities that drives clearing of Alien Vegetation
- Stimulate the growth of sustainable practices in the Natural Economy
- Raise awareness of Government Support services in the biodiversity arena