Perceived success of energy strategies for South Africa's financial services industry

Erika van der Westhuizen, Jackie Young
2018 Journal of Energy in Southern Africa  
Energy strategies have become a global focal point involving both individuals and organisations. These strategies are implemented widely by developed countries to address greenhouse gas emissions. Developing countries are, on the other hand, lagging behind with this important global objective of reducing emissions. South Africa is one of these countries because of its rapid industrialisation along with its increasing use of coal to produce energy. It is therefore imperative for the country to
more » ... or the country to develop and implement energy strategies supported by a culture and awareness of energy management. The purpose of the present study is to create an awareness of the current state of energy strategies in terms of energy conservation, efficiency and sustainability. A quantitative research design was followed, using a questionnaire to evaluate the energy management strategies implemented by the South African financial services industry. The results indicated that there are two main barriers against their implemen-tation: their cost, and limited awareness and knowledge of the various strategies available. The results show that renewable energy strategies are not exploited to a beneficial degree. One way to enhance the development and efficiency of renewable energy strategies is to improve communication about the benefits through training and education programmes. Highlights: • Energy conservation and efficiency strategies assist with reducing energy costs. • Barriers against implementation include the cost of the strategies and lack of knowledge. • Communication improves reductions in energy costs.
doi:10.17159/2413-3051/2018/v29i3a5273 fatcat:p3h4fg7cwrd6pl7jck25cfv32u