South Africa enacts carbon tax

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South Africa has just joined some 40 countries that have enacted national carbon tax policies, aiming to curb the rise in carbon emissions to meet global climate change targets.
South Africa’s President Cyril Ramaphosa signed on Sunday the carbon tax act that will introduce a carbon tax on June 1 in one of Africa’s worst polluters. In the first phase of the tax implementation—June 2019 through December 2022—the tax rate will be equal to US$8.32 (120 South African rand) per one ton of carbon dioxide equivalent.

The second phase of the carbon tax will be between 2023 and 2030, according to a statement of South Africa’s National Treasury.

South Africa has just joined some 40 countries that have enacted national carbon tax policies, aiming to curb the rise in carbon emissions to meet global climate change targets.
South Africa’s President Cyril Ramaphosa signed on Sunday the carbon tax act that will introduce a carbon tax on June 1 in one of Africa’s worst polluters. In the first phase of the tax implementation—June 2019 through December 2022—the tax rate will be equal to US$8.32 (120 South African rand) per one ton of carbon dioxide equivalent.

The second phase of the carbon tax will be between 2023 and 2030, according to a statement of South Africa’s National Treasury.

Eskom generates 90 percent of its electricity from coal, according to Global Risk Insights. South Africa aims to diversify its energy mix toward cleaner energies, sourcing 42 percent of its energy demand from renewable sources by 2030. Labor unions, however, oppose a significant scale-down in coal dependency, fearing massive job losses in the coal industry amid high unemployment in the country, Global Risk Insights says.

By enacting the carbon tax, South Africa joins some 40 countries and more than 20 cities, states, and provinces that already have carbon pricing mechanisms, World Bank data shows.

Still, climate activists say South Africa’s commitments are far from compatible with keeping global warming in check. According to Carbon Action Tracker, South Africa’s commitments fall in the “highly insufficient” category, meaning that if all government targets were in this range, global warming would reach between 3 and 4 degrees Celsius.

rt.com

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