The transition to a low-carbon economy offers long-term investors a range of new market opportunities, writes Jon Duncan
The transition to a low-carbon economy offers long-term investors a range of new market opportunitiesSince 2010 the debate concerning the net effect of pricing carbon in the SA economy has been fractious, with concerns ranging from international competitiveness to the financial impact on local industry and labour concerns.
The government’s announcement of a market-based carbon pricing mechanism is an important step towards shifting the economy to a low-carbon growth path by initially targeting the most carbon- and energy-intensive companies. The bill includes a R120 per tonne carbon tax for primary GHG emitters; a carbon tax on liquid fuels; economic incentives for energy efficiency; and the use of carbon offsets as a means of reducing tax burden. What is envisaged is a phased approach, with the first phase extending from June 2019 to December 2021, escalating at 2% above consumer price index annually.
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