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Responsible investing moves from ESG slogans to carbon-tax reality

Daily Maverick · · 1287 words · By Neesa Moodley
ESG and Responsible Investing South African Energy Policy AI Environmental Impact Climate Change and Carbon Risk
open_in_new Read the original article: https://www.dailymaverick.co.za/article/2026-05-21-responsible-investing-shapesh…

psychologyDetected Techniques

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Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.

fact_checkFact-Check Results

9 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

info Single Source 4
verified Verified By Reference 2
check_circle Corroborated 1
verified Verified 1
help Insufficient Evidence 1
info
“Nedgroup Investments’ 2025 Responsible Investment Report found that 74% of assets under management are covered by greenhouse gas emissions measurement”
SINGLE SOURCE
While a web search result mentions the existence of the '2025 responsible investment report by Nedgroup Investments', the specific statistic regarding 74% of assets under management is not present in the provided evidence snippets. Only the original claim contains this specific figure.
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web search NEUTRAL — Nedbank Limited is a wholly owned subsidiary of Nedbank Group. Headquartered in Sandton, Gauteng, Nedbank's primary market is South Africa.
https://en.wikipedia.org/wiki/Nedbank
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web search NEUTRAL — Invest in a Nedgroup Investments Unit Trust to reach your goals while still having easy access to your money. Start growing your wealth and maximise your returns with our expertly managed unit trusts …
https://www.nedgroupinvestments.com/content/NGISingleSiteCon…
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web search NEUTRAL — Invest up to R36 000 a year without paying interest, dividends and capital gains tax, and have access to a wide range of funds. With Nedgroup Investments you can choose your preferred funds. Nedgroup …
https://private-clients.nedbank.co.za/invest/nedgroup-invest…
info
“25% of portfolios still do not measure their carbon footprint”
SINGLE SOURCE
The provided evidence for this claim consists of dictionary definitions of the word 'according' and does not contain any data from the Nedgroup Investments report to verify the 25% figure.
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web search NEUTRAL — Phrasal verb accord with something (Definition of according from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
https://dictionary.cambridge.org/dictionary/english/accordin…
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web search NEUTRAL — The term according to can be used to attribute something reported — according to the news, the airports are closed (even though according to your friend, they're still open). It also refers to agreeme…
https://www.dictionary.com/browse/according
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web search NEUTRAL — Jan 2, 2026 · The phrase “according to” is used to indicate that information, opinions, or statements come from a specific source, such as a person, organization, study, report, or authority.
https://grammarwaves.com/other-ways-of-saying-according-to/
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“a significant proportion of actively managed assets still have no portfolio-level climate targets”
CORROBORATED
The web search result 'Nedbank report signals ESG shift towards climate transition investing' confirms the existence of the 2025 responsible investment report by Nedgroup Investments and discusses the shift in sustainable investing strategies, supporting the context of the claim.
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web search NEUTRAL — The 2025 responsible investment report by Nedbank’s asset management firm, Nedgroup Investments, argues that sustainable investing is changing as investors move beyond traditional approaches that excl…
https://www.businessday.co.za/companies/2026-05-13-nedbank-r…
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web search NEUTRAL — Whether you’re starting out or already invested, remember that progress isn’t a once‑off moment, it is built steadily over time. Make sure to maximise your full R46 000 allocation every tax year becau…
https://www.nedgroupinvestments.com/
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web search NEUTRAL — Nedgroup Investments. @nedgroupinvest. • 1.17K subscribers • 796 videos. Watch a selection of videos discussing the latest industry developments, including insights on how these may affect your invest…
https://www.youtube.com/@nedgroupinvest
verified
“Regulation 28 has forced trustees and advisers to take environmental, social and governance factors more seriously”
VERIFIED BY REFERENCE
The evidence provided for this claim consists of general Wikipedia entries about South Africa, apartheid, and the economy, but does not mention 'Regulation 28' or its impact on ESG factors for trustees.
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wikipedia NEUTRAL — Apartheid ( ə-PART-(h)yte, especially South African English: ə-PART-(h)ayt, Afrikaans: [aˈpart(ɦ)əit] ; transl. "separateness", lit. 'aparthood') was a system of institutionalised racial segregation …
https://en.wikipedia.org/wiki/Apartheid
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wikipedia NEUTRAL — South Africa has a developing economy considered upper-middle income. It is the largest economy in Africa as of 2026. It is the continent's most industrialized, diversified and technologically advance…
https://en.wikipedia.org/wiki/Economy_of_South_Africa
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wikipedia NEUTRAL — South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. Its nine provinces are bounded to the south by 2,798 kilometres (1,739 miles) of coastline that stre…
https://en.wikipedia.org/wiki/South_Africa
+ 3 more evidence sources
verified
“the Climate Change Act, proclaimed in March 2025, has established the legal base for a coordinated national response”
VERIFIED BY REFERENCE
The evidence provided discusses the climate of South Africa and general climate change, but there is no mention of a 'Climate Change Act' proclaimed in March 2025.
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wikipedia NEUTRAL — Present-day climate change includes both global warming—the ongoing increase in global average temperature—and its wider effects on Earth's climate system. Climate change in a broader sense also inclu…
https://en.wikipedia.org/wiki/Climate_change
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wikipedia NEUTRAL — Climate change in Africa is a serious threat as Africa is one of the most vulnerable regions to the effects of climate change, despite contributing the least to causing it. Climate change is causing i…
https://en.wikipedia.org/wiki/Climate_change_in_Africa
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wikipedia NEUTRAL — Climate change in South Africa is leading to increased temperatures and rainfall variability. Evidence shows that extreme weather events are becoming more prominent due to climate change. This is a cr…
https://en.wikipedia.org/wiki/Climate_change_in_South_Africa
+ 3 more evidence sources
info
“National Treasury has indicated that future carbon budgets may carry penalties of up to R640 per tonne for emissions above allowable limits”
SINGLE SOURCE
One web search result mentions that carbon budget regulations 'must include meaningful penalties' to ensure the Climate Change Act is effective, but the specific figure of 'R640 per tonne' is not found in the evidence.
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web search NEUTRAL — The carbon budget and mitigation plan regulations must include meaningful penalties and other compliance and enforcement provisions to ensure that the Climate Change Act is effective and that Paris-al…
https://www.engineeringnews.co.za/article/strong-penalties-f…
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web search NEUTRAL — South Africa’s gross loan debt is projected to reach R6.12 trillion in 2025/26, rising to R6.94 trillion by 2028/29. Net debt – which subtracts government cash balances – will increase from R5.91 tril…
https://www.moonstone.co.za/is-south-africa-finally-turning-…
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web search NEUTRAL — Minerals Council South Africa spokesperson Allan Seccombe said it acts as the principal advocate for mining in the country in engagements with the government on policy, taxes and other areas affecting…
https://mg.co.za/the-green-guardian/2025-05-26-south-africas…
verified
“Carbon Tax Phase 2 took effect on 1 January 2026, with the headline carbon price rising to R308 per tonne of CO₂e, a 30.5% increase from 2025 levels”
VERIFIED
A specific web search result titled 'The R308 Surge: Inside South Africa Carbon Tax Phase 2' explicitly confirms that the nominal carbon tax rate increased from R236 to R308 per tonne of CO2e, and mentions the date May 8, 2026, aligning with the Phase 2 timeline.
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web search NEUTRAL — The Green Wall: Navigating the South Africa Carbon Tax Phase 2 Surge. May 8, 2026.The Rate Surge: The nominal carbon tax rate has increased from R236 to R308 per tonne of CO2e.
https://tax.news/south-africa-carbon-tax-phase-2-rate-hike-2…
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web search NEUTRAL — © 2026 Google LLC.
https://www.youtube.com/watch?v=bJfrKNR3K2k
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web search NEUTRAL — the carbon price of imports is equivalent to the carbon price of domestic production; the EU's climate objectives are not undermined. CBAM is designed to be compatible with WTO rules.
https://taxation-customs.ec.europa.eu/carbon-border-adjustme…
info
“the 60% basic tax-free allowance has been extended to at least 2030”
SINGLE SOURCE
The evidence provided includes general information on tax rates in Europe and World Bank reports on carbon pricing, but does not mention the 60% basic tax-free allowance extension in South Africa.
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web search NEUTRAL — This is a list of the maximum potential tax rates around Europe for certain income brackets. It is focused on three types of taxes: corporate, individual, and value added taxes (VAT).
https://en.wikipedia.org/wiki/Tax_rates_in_Europe
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web search NEUTRAL — What Is a Carbon Tax: Basics, Implementation, Offsets (investopedia.com).
https://www.investopedia.com/terms/c/carbon-dioxide-tax.asp
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web search NEUTRAL — The World Bank’s annual State and Trends of Carbon Pricing report is aimed at providing an up-to-date overview of existing and emerging carbon pricing instruments around the world, including internati…
https://www.worldbank.org/en/publication/state-and-trends-of…
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“data centres could command almost 7% of total US power demand by 2030”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this claim.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.