If bill is passed companies who don't reduce emissions to pay higher carbon tax
Businesses that fail to reduce emissions could soon be taxed a higher carbon tax rate if a new bill proposed is passed.
This legislation will fast-track South Africa into a greener economy.
The proposed bill comes weeks before the UN’s climate change conference known as COP26, where South Africa is likely to be dubbed as Africa’s biggest source of greenhouse gases and the world’s 12th largest.
Bongani Bingwa chats to Eds Systems Business Development head Eckart Zollner to give more insight on the matter.
The bill has been in operation for two years now, and it was developed in a number of phases and the first phase was a soft introduction to get industries to be familiar and comfortable with the concept.Eckart Zollner, Business Development head - Eds Systems
From January 2023, the second phase will start. The cost of not introducing measures of a polluters pay principle will be far greater in 20 years time.Eckart Zollner, Business Development head - Eds Systems
Listen below to the full conversation:
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