South African Asset Managers Shift from ESG Slogans to Carbon Tax Reality

South African investment firms are moving beyond generic ESG policies toward concrete carbon data and emissions targets. While greenhouse gas measurement is becoming standard, many portfolios still lack explicit climate targets to drive actual decarbonization. New regulatory pressures, including the Climate Change Act and rising carbon tax rates, are forcing a shift. Investors are now focusing on how heavy industry handles carbon budgets and whether companies are truly transitioning or simply relying on tax allowances to delay operational changes.