Carbon-and energy-intensive companies in the mining, steel, chemical, cement and paper industries have come out against the carbon tax proposed by the Treasury. Public hearings on the draft Carbon Tax Bill were held in Parliament on Wednesday by the finance and environmental affairs committees. Opposition to the proposed tax was expressed by energy and chemical company Sasol, which did not believe it was the correct approach and warned of the regulatory and policy uncertainty surrounding the proposals because they would be adjusted in future. Eskom acting chief financial officer Calib Cassim argued that a carbon tax was not required for SA to meet its international commitments and would result in a sharp increase in electricity tariffs from 2023. Business Unity SA said the bill should be halted until an integrated mitigation system had been finalised. The Treasury estimates that the introduction of the carbon tax will result in a decrease in greenhouse gas emissions of between 13% a...

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