Upcoming Carbon Tax in South Africa
- by Evelyn Neumayr
By Elena Avesani, Principal Product Strategy
Manager, Oracle
In
2012, the South Africa National Treasury announced the plan to impose a carbon
tax to cut carbon emissions that are blamed for climate change. South Africa is ranked
among the top 20 countries measured by absolute carbon dioxide emissions, with
emissions per capita in the region of 10 metric tons per annum and over 90% of
South Africa's energy produced by burning fossil fuels. The top 40 largest
companies in the country are responsible for 207 million tons of carbon
dioxide, directly emitting 20 percent of South Africa’s carbon output.
The
legislation, originally scheduled to be implemented from January 2015 to 31
December 2019, is now delayed to January 2016. It will levy a carbon tax of R120
(US$11) per ton of CO2, rising then by 10 percent a year until 2020, while
all sectors bar electricity will be able to claim additional relief of at least
10 percent. The South African treasury proposed a 60 percent tax-free
threshold on emissions for all sectors, including electricity, petroleum, iron,
steel and aluminum.
Oracle Environmental Accounting and Reporting (EA&R) supports these needs and guarantees consistency
across organizations in how data is collected, retained, controlled,
consolidated and used in calculating and reporting emissions inventory. EA&R
also enables companies to develop an enterprise-wide data view that includes
all 5 of the key sustainability categories: carbon emissions, energy, water,
materials and waste. Thanks to its native integration with Oracle E-Business Suite and JD Edwards EnterpriseOne ERP
Financials and Inventory Systems and the capability of capturing environmental
data across business silos, Oracle Environmental Accounting and Reporting is
uniquely positioned to support a strategic approach to carbon management that
drives business value.
Sources:
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