Posts Tagged ‘Business’

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Carbon taxes could open the door for greater investment in renewable energy

4 August 2008

The Democratic Alliance last week welcomed the announcement by Cabinet of a policy framework on climate change – most notably the announcement that a new series of carbon taxes will likely be introduced.

“South Africa is one of the most carbon-intensive countries in the world and it is incumbent on this country to reduce its emissions in the future in order to play its role in stabilising the world’s climate,” said DA environmental affairs spokesman Gareth Morgan.

While cautious of the additional costs placed on business by carbon taxes, Morgan said they were essential for the creation of a price for carbon, which was a prerequisite for creating a carbon market. He added that they should be introduced gradually to allow businesses to adjust, and in conjunction with other fiscal measures that would reduce the costs of doing business in South Africa.

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