Sure... No mention whatsoever that the taxes are earmarked for anything at all. That pretty much sums it up, doesn't it?
The focus of the article was on the polluter's liability, not on tax expenditures.
... But then again, I can ask you for the same in terms of predicting the future on this.. Do you have any proof that the monies will be spent on any meaningful eco projects?
NEMA
Government and Developers to work within environmental legislation to achieve sustainable development
In a world where environmental sustainability is key to the survival of future generations, communities across the board need to become involved in protecting our natural resources.
Stefano Contardo, Development Executive at Improvon, a company specialising in providing tailor-made industrial and commercial rental space, says environmental legislation is particularly relevant in the development industry as both government and developers work towards the same goal: a healthy, sustainable environment for all South Africans.
As such, NEMA (National Environmental Management Act) Legislation has been introduced as a tool to ensure sustainable development. “While EIAs (Environmental Impact Assessment) are an important tool in this process, they do pose certain challenges for developers,” admits Contardo. A critical aspect here is timing. “This is particularly challenging when awaiting feedback from the Departments, especially when public participation has been involved. The Departments have a backlog of applications and this can delay projects considerably,” he adds.
Variances in the way the legislation is interpreted affects how land can be utilised and in turn, poses a risk to investment. “While developers use independent teams to conduct an EIA’s once the application is submitted to government, it may be interpreted differently by their teams. Ultimately, this hinders any type of planning when it comes to the use of land, and such uncertainty is a challenge to investment,” Contardo informs.
Ultimately, it’s a case of pulling together and compromising. “Government has two equally important mandates – growing the South African economy whilst ensuring such growth does not occur at the expense of the environment. There are a number of resources that we can use to ensure we have an understanding of the legislation and comply with from the initial feasibility stages of a project,” Contardo maintains.
“Bridging the gap between capitalist and environmental perspectives is entirely possible – with the right amount of commitment and compromise from both sides. The legislation is well structured and the system works from a business perspective, we just need to take the time to understand and enforce it,” he concludes.
Government and Developers to work within environmental legislation to achieve sustainable development - SA Commercial Prop News | Commercial Property News in South Africa