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Seriti CEO breaks down its partnership with Eskom & Exxaro on carbon reduction
Coal miner Seriti is working on a number of initiatives to lower emissions which, most recently, included an MOU with South Africa's power utility. Internally it plans to cut it's CO2 emissions by more than half in the near future. Mike Teke, Chief Executive Officer, Seriti Resources Holdings joins CNBC Africa for more.
Tue, 26 Oct 2021 16:44:19 GMT
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AI Generated Summary
- Seriti Resources Holdings and Exxaro are leading efforts to reduce carbon emissions in South Africa through individual initiatives and strategic partnerships.
- The establishment of Seriti Green Energy and Exxaro Synergy highlights a commitment to sustainability and environmental stewardship.
- Mike Teke emphasized the importance of collaboration, responsible transitions, and action from developed nations in addressing global environmental challenges.
In a recent interview with CNBC Africa, Mike Teke, the Chief Executive Officer of Seriti Resources Holdings, discussed the company's partnership with Eskom and Exxaro on carbon reduction initiatives. The Memorandum of Understanding (MOU) signed by the companies aims to contribute towards the reduction of carbon emissions in South Africa and advance the country's decolonization strategy. Teke emphasized that the responsibilities and funding for this initiative lie with Seriti Resources Holdings and Exxaro, with each company spearheading its own efforts.
The establishment of Seriti Green Energy and Exxaro Synergy showcases the companies' commitment to sustainability and reducing their carbon footprint. While the possibility of collaboration in the future remains open, the current focus is on individual initiatives to drive progress. Teke highlighted the importance of assessing each operation to identify specific initiatives, such as implementing plants for renewable energy generation.
When questioned about the origin of the initiative, Teke underscored the collective decision-making process involving Seriti, Eskom, and Exxaro. The three entities recognized the need for proactive measures to address global environmental challenges and enhance South Africa's position in the energy transition. Teke revealed that Seriti is also exploring additional initiatives, like 'Seriti Blue,' to further diversify and drive commercial success.
Regarding the timeline for these initiatives, Teke noted that significant groundwork has already begun, with plans to launch projects on the ground by the first quarter of the upcoming year. While no capital allocation has been finalized, discussions are scheduled for a strategy session in December to align budgets and resources for the initiative.
Looking towards the upcoming COP26 summit, Teke expressed expectations for tangible action from developed nations, emphasizing the importance of fulfilling commitments to renewable energy transitions. He called for a collaborative approach that considers the perspectives of developing economies and prioritizes responsible transitions to mitigate adverse impacts on vulnerable populations.
Overall, Seriti Resources Holdings is at the forefront of driving sustainable practices and environmental stewardship in the mining industry. Through strategic partnerships and proactive initiatives, the company is poised to make a significant impact on carbon reduction efforts in South Africa and contribute to a more sustainable future for all stakeholders.
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