Engineering News 4 June 2013.
Steel producer ArcelorMittal South Africa (Mittal) has again warned that the National Treasury’s proposed carbon tax will have a yearly negative financial impact on the company of between R600-million and R650-million. It has also confirmed that it is preparing a detailed response to the National Treasury’s latest policy paper, which will be submitted ahead of the August 2 deadline for written comments…
(Contributor’s note: Of course, if every country says “let’s not be the first” then no one will ever make the move.)
Polity.org.za 2 May 2013.
South African industry have until August 2 to comment on the carbon tax proposals tabled by the National Treasury on Thursday.
The Treasury aimed to promulgate a phased-in tax rate of R120/t of carbon dioxide equivalent (CO2e), increasing 10% a year during the first phase, in an attempt to curb the country’s greenhouse-gas (GHG) emissions.
The country aimed to decrease its GHG emissions by 34% by 2020 and by 42% by 2025.
The second and final comment paper, titled ‘Reducing greenhouse gas emissions and facilitating the transition to a green economy’, followed on the 2010 discussion paper and takes into account all comments received, as well as the 2006 Environmental Fiscal Reform policy paper.
(Download the comment paper here: Carbon_Tax_Policy_Paper_May2013)