Business & Industry Treasury

SA industry advised to fight for 100% exemption for offsets in carbon tax law

Business Day Live 29 November 2012.

INDUSTRY in South Africa needed to fight for 100% tax exemption for its offsets of greenhouse gas emissions within the coming South African carbon tax regime, a carbon trade expert told an International Council on Mining and Metals (ICMM) event in Doha, Qatar, on Wednesday night.

Finance Minister Pravin Gordhan has said a carbon tax will be introduced in South Africa from next year, although the Treasury has yet to release its promised second discussion paper on the proposed tax.

“Carbon” has become a catch-all term for all greenhouse gases, linked by science to the overall increase in global temperatures…

(Editor’s note: In case you don’t read the full article, the current SA carbon tax policy is to only allow 10 to 20% of a company’s carbon emissions to be offset by buying carbon credits from someone else instead of reducing its own emissions directly. From a global warming perspective, it doesn’t matter where the carbon is reduced as long as net reduction does happen.)

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