In response to the increasing importance of carbon disclosure and growth in the carbon market, Webber Wentzel has established a Climate Change and Carbon Trading Unit to advise clients within a range of industries on the legal and commercial requirements necessary for participation in the carbon economy. With an in-depth understanding of the Kyoto Protocol and its requirements and processes, they have been able to offer a comprehensive range of services, including corporate and commercial transactions and advisory work.
In addition to transactional work, the Unit has also advised a number of local and foreign institutions on the financial regulatory implications of carbon trading in South Africa and is investigating some of the unresolved issues in this area, including foreign exchange, tax, carbon credit royalties, and questions of title and ownership.
The Unit recently hosted the first South African Conference on the legal implications of carbon trading, in conjunction with the JSE Ltd (the Johannesburg Stock Exchange), the University of Cambridge Programme for Business and Genesis Analytics. The event was very successful and enjoyed wide media coverage.