Core Carbon Receives BBBEE Rating
7th April 2016
EcoPlanet Core Carbon has received a positive rating as a Level 4 BBBEE contributor.
Over the coming 12-24 months the company intends to expand its clean manufacturing and processing facilities, located within the Kowie Bamboo Farm on the Eastern Cape. Such expansion includes the creation of a significant number of employment opportunities, for both unskilled and highly skilled individuals, as well as its investment into training and skills development. Core Carbon's operations, in conjunction with EcoPlanet Bamboo Southern Africa and EPB Laboratories are also resulting in the associated socio-economic development of the surrounding area. As a result, it is expected that increasingly higher levels of BBBEE accreditation will be achieved.
South Africa is a country where years of systemic racism have contributed to contemporary economic woes and led to the economic disempowerment of black Africans. As a response, the government enforced Broad-Based Black Economic Empowerment (BBBEE or B-BBEE) with the goal of distributing wealth across as broad a spectrum of previously disadvantaged South African black society, as possible.
Broad-based black economic empowerment is measured using seven pillars, each with a relative weighting towards an overall score.
- Equity ownership
- Employment equity
- Skills development
- Preferential procurement
- Enterprise development
- Socio-economic development
Achieving BBBEE accreditation is another milestone in EcoPlanet Core Carbon's development within South Africa.< Back to news < Download article