Participants at the Green Economy summit in Johannesburg, on Thursday committed to drawing up a ‘Green Economy Plan' by the end of July, which will outline the work required to develop the key elements of a green-economy strategy.

A draft statement of conclusion was drawn up at the end of the three-day summit, outlining commitments to ensure that South Africa's growth path was more resource efficient, less carbon intensive, and more labour absorbing.

Interested parties could comment on the draft conclusion statement, or request input on the document by May 27.

In closing the summit, Water and Environmental portfolio committee Member of Parliament Maggie Sotyu said that the summit delegates committed themselves to taking the process forward, as the environmental impact of economies and enterprises needed to be reduced.

Sotyu further emphasised that government and business needed to question how green their future investment plans were.

It was suggested that the ‘Green Economy Plan' would look into a number of issues, including: a regulatory framework to enable the development of sector action plans, and related green markets and industries; the use of market instruments to incentivise the use and production of cost effective cleaner and low carbon products; and greater localisation of manufacturing of products and materials in key sectors, including in the low-carbon energy, consumer products, building and transport sectors.

The plan would also outline work to be done on: development, deployment and commercialisation of innovative science and technology solutions aimed at advancing a green economy; integration of the different work streams and programmes to maximise benefits from investment and finance opportunities; as well as define the job creation potential of a green economy growth path for each sector and the associated skills development needs.

Delegates at the summit further resolved to work together on: sustainable consumption and production; policy, fiscal and regulatory frameworks; green buildings and the built environment; sustainable transport; clean energy and energy efficiency; green cities and towns; resource conservation and management; sustainable waste management practices; agriculture, food production and water management.

Skills development, factoring in the cost of natural capital, and industrial policy alignment would also be included in the draft conclusion document.