Green tax 'too little, too late'

2013-02-27 18:18 - Sapa
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Environment
(Duncan Alfreds, News24)

Johannesburg - The introduction of a carbon tax in 2015, as announced in the 2013 National Budget, may not be sufficient to address climate change, Greenpeace Africa said on Wednesday.

"While the proposed carbon tax should ensure that the true cost of carbon intensive industries are included in their costing, its application in 2015 might be too little, too late," spokesperson Mbong Tsafack said in a statement.

Finance Minister Pravin Gordhan said earlier that a carbon tax of R120 per ton of carbon dioxide-equivalent would be implemented from January 1 2015.

However, a tax-free exemption threshold of 60 percent would be set to "soften the blow", Gordhan said.

Tsafack said climate change required immediate action.

Greenpeace Africa also believed South Africa needed an ambitious infrastructure investment in renewable energy. "Investments in renewable energy not only provide a far better option to bio-fuels, but go a long way in addressing the concerns of job creation...," he said.

* Visit our 2013 Budget section for full coverage of Finance Minister Pravin Gordhan's National Budget speech.

* Use our tax calculator to work out your tax relief.

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