GRAY MAGUIRE: Firms should get ready as carbon tax system is finally taking shape
After the better part of 10 years the final pieces of the SA carbon tax system finally fell into place over the last week. The National Treasury first released the trade exposure and greenhouse gas (GHG) benchmark regulations as well as the renewable energy premium notice, and then the department of energy sealed the deal with the launch of the carbon offset administration system (COAS).
The protracted development time of the tax and its constituent components is largely due to the opposition emanating from various industries and political parties over the past decade. However, with more than 40 countries representing about 25% of global greenhouse gas emissions now instituting some form of national carbon barrier, including border taxes, waiting any longer to get the ball rolling is counterproductive to our export interests.