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2013-02-27. South Africa to tax carbon emissions from 2015.

posted Mar 13, 2013, 2:58 PM by Alan Gould   [ updated Mar 13, 2013, 2:58 PM ]
| Science, AlertNet. Relevant to GSS Climate Change chapter 9. Excerpt: CAPE TOWN (Reuters) - South Africa, the continent's top greenhouse gas producer, plans to tax carbon emissions from January 2015, but will introduce some exemptions to protect industry and jobs, South Africa’s finance minister said on Wednesday. The tax, set at 120 rand ($14) per tonne of carbon dioxide equivalent, has been criticised by carbon-intensive companies such as petrochemicals giant Sasol and ArcelorMittal South Africa who argue the state’s attempt to curb emissions blamed for global warming would hit profits. ...The Treasury proposed a 60 percent tax-free threshold until 2020 on annual emissions for all sectors, including electricity, petroleum, iron, steel and aluminium. ...South Africa wants to cut CO2 emissions by a third over the next decade but has little flexibility to make fast changes with major employers among the top polluters. Its cash-strapped power sector almost fully reliant on coal. The carbon tax, to be phased in over time, is one of several green initiatives aimed at reducing the carbon footprint in the continent's largest economy, including a biofuels production incentive and higher vehicle emissions taxes.... See South Africa Parliament News Release. See full article at http://www.trust.org/alertnet/news/south-africa-to-tax-carbon-emissions-from-2015/.