South African industry found to frequently fail to comply with environmental laws

This month the Centre for Environmental Rights (CER) released a report that reveals that South African industry frequently fails to comply with environmental laws, or to disclose those non-compliances to their shareholders.  CER had conducted a baseline assessment of 20 listed South African companies, including PPC, Sappi, Lonmin, Arcelor Mittal, Exxaro, African Rainbow Minerals and Sasol.  The report states that the manner in which South African companies are rated for socially responsible investment is “wholly inadequate”, and that investors are failing to recognise or adequately investigate transgressions or potential transgressions.

Full Disclosure: the truth about corporate environmental compliance in South Africa.