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South Africa’s big step towards carbon resilient society

Laura Hill

Laura Hill

Laura Hill is a sustainability consultant with experience in carbon assurance. She enjoys pottery and playing her chocolate Lab, Lucy.
Laura Hill

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ANNOUNCEMENT

4 November 2015

After much anticipation the Draft Carbon Tax Bill has been released for public consultation. Wrapping up a 5 year process, the draft bill will require Greenhouse Gas emitters to pay a tax for fossil based carbon emissions. This is set to aid in governments commitment to reduce greenhouse gasses and transform South Africa to a low carbon and sustainable society.

This draft bill provides an opportunity for business to benefit from carbon offsetting, providing for a carbon offset tax-free allowance of 5-10%. This will create a platform to reduce the amount of carbon tax owed. One way to do this, is to buy carbon credits from approved carbon reduction projects, such as those registered with UNFCCC programme of activities (PoAs). The Carbon Protocol of South Africa has four registered PoA’s, click here for more information.

Stakeholders have been invited to comment on the environmental and socio-economic impacts of the implementation of carbon tax as well as the design and legal wording thereof. Submissions are required by 15 December 2015 to Dr. Memory Machingambi, memory.machingambi@treasury.gov.za