South Africa’s National Treasury on Tuesday (April, 29) announced a set of proposals for a carbon offset scheme. According to official release, the measure is designed to help country’s companies in upscaling low-carbon investments and lowering their liabilities in the carbon tax scheduled to come into effect in 2016.
South Africa is voluntarily committed to reducing GHG emission production by 34 per cent in 2020 and 42 per cent in 2025 below a business-as-usual scenario, and the carbon tax is one of the key measures to achieve the target. The levy was proposed in December 2010 but its implementation has been postponed twice.
The proposal for a complementary carbon offset scheme outlined eligibility criteria and principles for projects concerning energy efficiency, transport, waste, agriculture, forestry and other land uses.