Carbon emissions to be taxed in South Africa

South Africa does not want to be left behind in sustainable development.

In March, the African nation approved a new tax. This is a federal tax on carbon emissions. For each ton issued will be charged 120 rands (eight US dollars).

The law has been passed for years. The idea of ​​taxing carbon was introduced in the country for the first time in 2010, but the implementation was long overdue by the fossil fuel industry.

South Africa’s finance minister, Tito Mboweni, said the bill would open space to boost the nation’s investment in the area of ​​sustainability, specifically renewable energy.

In addition the country’s congress is setting up a climate bill that will monitor and manage emissions from various economic sectors. Currently in South Africa, 90% of the electricity and two thirds of the country’s total energy comes from coal.

The tax will be put into effect in June 2019.