GCFO Kagiso Lerutla Identifies Climate Change As A Major Financial Risk In 2023
As the world continues to grapple with the challenges posed by climate change, it is becoming increasingly clear that its impacts extend far beyond environmental concerns. Indeed, climate change is also emerging as a major financial risk for many municipalities in Africa, including the City of Ekurhuleni. In recognition of this fact, the municipality’s Group Chief Financial Officer, Mr. Kagiso Lerutla, has been vocal in his calls for action to address this ever looming crisis.
One of the key challenges that Mr. Lerutla and his team face is the financial impact of climate change on the municipality. Climate change is already having a range of adverse effects on Ekurhuleni, including more frequent and severe floods, droughts, and heatwaves. These events can cause significant damage to infrastructure, disrupt services, and harm public health, all of which have significant financial implications.
In recognition of these risks, Mr. Lerutla has been actively advocating for the municipality to take action to address climate change. He has highlighted the importance of investing in resilient infrastructure that can withstand the impacts of climate change, such as flood protection measures and drought-resistant water systems. He has also called for increased investment in renewable energy and energy efficiency measures, which can reduce the municipality’s carbon footprint while also reducing its energy costs.
Mr. Lerutla has also emphasized the need for collaboration and partnership to address the financial risks posed by climate change. He has called on the municipality to work closely with various stakeholders, including national and provincial governments, civil society organizations, and the private sector, to develop coordinated responses to this issue.
By taking proactive steps to address this issue, he is helping to ensure that the municipality is well-positioned to weather the challenges posed by climate change and to continue providing essential services to its citizens.
