The carbon tax policy paper which was released for comment in May 2013 and outlines the proposed carbon tax has certainly caught the attention of the business community.
The tax, originally proposed to start 1 January 2015, has since been delayed to start 1 January 2016. While many believe delays will continue, treasury stands firm on implementing the tax next year.
While recognising the importance of reducing carbon emissions and foreseeing the benefits that a low carbon economy can bring, the South African government has committed to ambitious greenhouse gas reductions of 34% by 2020 and 42% by 2025. Policies, frameworks and financial instruments need to support these commitments for any hope of achieving such reductions.
The purpose of a carbon tax, seen too often as a way to increase the tax base, is intended more to send the necessary price signals to change consumer behaviours and stimulate investment appetite towards low carbon options. How tax will affect economic growth will largely depend on supportive policies and the extent of tax shifting or revenue recycling.
In summary, the key points of the design features of the carbon tax include:
• The tax will be phased in over a period of time.
• The tax will therefore be implemented on 1 January 2016 and bodies will need to comply/pay accordingly.
• Tax has been proposed at R120 per tonne of CO2e (carbon dioxide equivalent), the amount to be increased 10% per year.
Palabora Mining Company and LH Marthinusen launch robotics and coding initiative
News
In a joint effort to advance education and digital skills development in Phalaborwa, Palabora Mining Company (PMC) and LH Marthinusen (LHM) have partnered to establish a fully equipped robotics and coding classroom at a local high school.
Read more...A new era for African engineering
News
A group of mostly South African engineering professionals who bought a controlling margin of the South African arm of Netherlands-based engineering consultancy Royal HaskoningDHV have rebranded it as Atana.
Read more...SEW-EURODRIVE builds regional strength with Gqeberha expansion
News
With the Eastern Cape firmly established as a hub for key industries such as automotive manufacturing, ports, agriprocessing and renewable energy, SEW-EURODRIVE is strengthening its presence in the region through an ongoing significant expansion of its facility in Gqeberha.
Read more...Functional safety explained
News
The SAIMC supports Pepperl+Fuchs, a National Member, in a free four-part online seminar series focused on Functional Safety.
Read more...The Future of manufacturing in Africa
News
The future and development of African manufacturing will be discussed extensively at the upcoming Manufacturing Indaba conference, to be hosted on 15 to 16 July 2025 at Johannesburg’s Sandton Convention Centre.
Read more...Reinstatement opportunity for ECSA registration
News
In 2023 the Engineering Council of South Africa (ECSA) announced a special opportunity for engineers in South Africa to reinstate their registration status if it had been cancelled. This exclusive offer is available until the end of August 2024.
Read more...Fostering a collaborative learning environment for sugar producer SKF South Africa
News
One of South Africa’s leading sugar producers made strategic use of its off-crop season, turning scheduled downtime into an opportunity for both essential maintenance and valuable skills development with the help of SKF
Read more...Steinmüller Africa and Eskom uplift eMalahleni communities
News
Steinmüller Africa, in partnership with Eskom, has reaffirmed its commitment to social upliftment by donating essential goods and creating meaningful connections with two impactful community organisations in eMalahleni.
Read more...Comtest calibration user group seminar
News
Comtest invites metrology and calibration professionals to a focused technical seminar series aimed at demystifying some of the most common hurdles in inter-laboratory comparisons.
While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.
printer friendly version