Publication
UK Carbon Border Adjustment Mechanism: how will it work?
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication | September 15, 2015
More than 75 designated employers in KwaZulu-Natal are facing fines of at least 1.5 million rand or 2% of their turnover for non-compliance with the Employment Equity Act No. 55 of 1998.
This harsh reality is being felt by non-compliant designated employers in KwaZulu-Natal. In terms of the Act, a designated employer is “a person who employs 50 or more employees” or a person who employs fewer than 50 employees but has a total annual turnover between 6 million and up to 75 million, depending on the employer’s industrial sector.
The Department of Labour is adopting a rigid stance in wielding the enforcement provisions against designated employers who do not comply. Labour inspectors are conducting inspections at various companies, in some instances arriving unannounced, to assess compliance.
Most of the fines being imposed relate to employers who do not have employment equity plans in place. The minimum fine is 1.5 million rand and the Department of Labour is not negotiable on this amount. Other consequences for non-compliance include a review by the director-general of a designated employer’s employment equity affairs and the issuing of written undertakings and compliance orders.
Publication
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication
Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime).
Publication
International financial markets have started to show significant interest in nature and biodiversity. Whilst climate change and greenhouse gas emissions have made the headlines in recent years, there has been much less focus on their equally important counterparts, nature and biodiversity. However, that has started to change.
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