Government is passing legislations and launching initiatives to reduce waste, air pollution and get more people and organisations to recycle and reuse.
Reducing and, ultimately eliminating, carbon dioxide (CO2), other air pollutants, greenhouse and waste is happening across the world in all sectors which call for technological innovation, new and creative policies and political will at all levels. Companies should be aware of these legislations so that they can start preparing to comply and incorporate these changes into their operations.
Paris Agreement on Climate Change
South Africa ratified the Paris Agreement on Climate Change in November 2016. The Agreement is a legally binding instrument that brings all nations to address the threat of climate change which sets the goal to reduce temperature to below 2 degrees Celsius.
To be in line with the Paris Agreement goals, South Africa recently implemented carbon tax, the IRP2019 (The plan proposed a significant increase in renewables-based generation from wind and solar as well as gas-based generation capacity by 2030), published National Climate Change Bill. There is also a call for a circular economy which is gaining traction in the public and private sector to reduce waste, recycle and reuse. Companies are now incorporating this concept into their business model.
Financial Disclosures on Environmental Reporting
The Centre for Environmental Rights (CER) has recently published a list of companies and a report disclosing their impact on the environment. The report considers the extent to which companies report on climate change in line with the recommendations of the Task Force on climate-related Financial Disclosures (TCFD). CER calls onto the public to take a stand against conducting business with companies that are not complying or cause damage to the planet. It reads: 'Make conscious choices. Your money might be used to support industries that cause climate change – with consequences beyond global warming and environmental damage'.
View the report: https://fulldisclosure.cer.org.za/2019/emitters