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South Africa’s Climate Change Bill Signed into Law!

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Tuesday, 23 July, marked a monumental step forward in South Africa’s journey towards sustainability with the signing of the Climate Change Act into law. Six Capitals would like to congratulate our lawmakers on completing this long process.

This legislation brings a robust framework for reducing greenhouse gas emissions and fostering a resilient, low-carbon economy.

Key highlights of the Act:

  • Emission Reduction Targets: Establishes binding national and sectoral emission reduction targets to align with international climate agreements.
  • Carbon Budgeting: Mandates carbon budgets for companies to regulate and limit the carbon emissions of key sectors.
  • Climate Adaptation: Mandates the development of climate adaptation strategies at all spheres of governance (National, provincial and municipal) to mitigate the impacts of climate change.
  • Public Scrutiny: Enforces disclosure from government departments as ministers must gazette policies and measures to achieve sectorial emission targets. For business more stringent reporting and transparency will be required regarding their carbon footprints and mitigation efforts.

What does this mean for business:
The new law will have significant implications for businesses across all sectors:

  • Compliance and Reporting: Companies must now adhere to stringent reporting standards and disclose their carbon emissions and mitigation strategies.
  • Investment in Green Technologies: There will be a greater push towards investing in renewable energy, energy efficiency, and sustainable practices to meet the new targets.

How Six Capitals ESG Advisory can help:
At Six Capitals ESG Advisory, we specialize in helping businesses navigate the complexities of ESG regulations and frameworks. Our services are designed to support companies in adapting to the new Climate Change Act, ensuring compliance, and leveraging opportunities for sustainable growth.

We offer:

  • Research and Due Diligence: Comprehensive analysis to ensure your business aligns with the latest climate regulations.
  • Responsible Investing Policies and Frameworks: Tailored strategies to integrate sustainability and climate change into your investment processes.
  • Climate Change Policies and Strategies: Development of climate resilience strategies to safeguard your operations.
  • Sustainability Reporting: Assistance in meeting the new reporting requirements with transparent and accurate disclosures.
  • Climate and ESG publications & Educational Workshops: Assisting corporate teams in understanding Climate Change and its impact on business

As we embark on this new chapter in South Africa’s sustainability journey, let’s work together to build a resilient, low-carbon future.

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Six Capitals ESG Advisory is a proud member of the Alternative Prosperity Group, a Level 2 B-BBEE contributor.

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