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Carbon Tax To Be Implemented In 2015

Representatives of companies including Sasol, AngloGold Ashanti and ArcelorMittal SA said that more clarity is needed on how a carbon tax will be implemented in 2015.

However, they were speaking at a National Business Initiative briefing on South Africa’s carbon tax policy in Johannesburg. The concerns of business about the Carbon Tax Policy Paper released last month seemed to echo those of MPs raised earlier this month in Parliament.

MPs said that that hasty implementation of a carbon tax could have a negative effect on South Africa’s rate of growth, and a comparably small effect on global greenhouse gas emissions. The tax is aimed at reducing the emissions.

Proposed measures on the carbon tax have been published and are now open for public comment.

According to the Treasury, South Africa is by any measure a significant emitter of greenhouse gases.

Mr Cecil Morden chief director of economic tax analysis at the Treasury said that South Africa found itself in a peculiar position. This had to do with the need to implement a carbon tax to reduce emissions, while grappling with slow economic growth, unemployment, poverty and inequality.

Mr Morden said that “Our emissions profile increased even during the time when our economy wasn’t doing very well. We have various environmental challenges, climate change being one of them.”

 

Source : BD Live