S. Africa to introduce carbon tax from 2015

Feb 27, 2013
Smoke billows from a refinery just outside Durban City on November 29, 2011. South Africa will introduce a tax on carbon emissions in 2015 amid concerns of global warming, Finance Minister Pravin Gordhan announced on Wednesday.

South Africa will introduce a tax on carbon emissions in 2015 amid concerns of global warming, Finance Minister Pravin Gordhan announced on Wednesday.

The tax to come into effect in January 2015 will be levied at 120 rand ($14) per tonne of carbon dioxide and will be subject to a 10 percent increase every year for the first five years.

"To soften the impact, a tax-free exemption threshold of 60 percent will be set with additional allowances for emissions-intensive and trade-exposed industries," he proposed in his 2013 budget speech.

The new will see the phasing out of the existing electricity levy, a tax on non-renewable and nuclear energy.

He said government will also back incentives to upgrade fuel refineries and the production of bio-fuel in a bid to boost output of cleaner fuel in the country.

"We are also encouraging the private sector and smaller public entities to be creative and develop low-carbon projects," he said.

The government has pledged to reduce domestic by 34 percent by 2020 and by 42 percent by 2025.

Explore further: British lawmakers demand freeze on fracking

add to favorites email to friend print save as pdf

Related Stories

Australia sets carbon price to fight climate change

Jul 10, 2011

Australia Sunday announced plans to tax carbon pollution at Aus$23 (US$24.74) per tonne to help battle climate change, as it moves towards an emissions trading scheme similar to that of Europe.

India says EU tax a 'deal breaker' for climate talks

Apr 11, 2012

India's environment minister said Wednesday that a European Union scheme to tax airlines for carbon emissions was "a deal breaker" ahead of global climate change talks, a warning rejected by the EU.

Recommended for you

British lawmakers demand freeze on fracking

13 hours ago

A committee of British lawmakers demanded a national moratorium on fracking due to environmental concerns on Monday, ahead of a crucial vote intended to boost the shale gas industry.

UN moves toward major treaty for ocean biodiversity

Jan 25, 2015

UN member states agreed Saturday to begin negotiations on a treaty to protect marine biodiversity in ocean areas extending beyond territorial waters, in a move heralded by environmental organizations.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

VendicarE
5 / 5 (1) Feb 27, 2013
Excellent.

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.