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A Green Economy can be defined as a system of economic activities related to the production, distribution and consumption of goods and services that result in improved human well-being over the long term, while not exposing future generations to significant environmental risks or ecological scarcities.
On 22 May 2019, the President assented to the Carbon Tax Act, 15 of 2019 (Carbon Tax Act), effective from 1 June 2019. The Carbon Tax Act has been implemented as part of South Africa's commitments under the Paris Agreement as a means to reduce greenhouse gas emissions and the challenges of climate change.
Although South African attempts to address climate change have been lambasted for being highly insufficient – the most recent Schroders Climate Progress Dashboard has revealed a slight improvement at a global level.
PEOPLE, PLANET, PROFIT - the triple bottom line! The concept of the Triple Bottom Line (TBL) being social equity, environment and economic factors, demands that a company’s responsibility lies with stakeholders rather than shareholders. This also indicates a commitment to Corporate Social Responsibility (CSR).