Following South African Finance Minister, Trevor Manuel’s instituting a carbon tax of two cents per kilowatt-hour on non-renewable energy source providers in February, discussions in the country have turned to significantly increasing carbon tariffs through 2050.
An official environmental affairs report distributed on Tuesday, said carbon prices could raise to R750 rand per ton by 2050, compared to the now, R650 rand per ton. The escalation in taxes is geared to slow carbon emissions output and ultimately reducing absolute emissions.
South Africa produces 50% of the continent’s harmful emissions, much as a result of its heavy dependence on coal-fired power stations that produce electricity.