Treasury regulations on carbon offsets open door for proper planning

The Treasury has published the long-awaited regulations that open the way for SA companies to offset their carbon emissions, as part of the government’s efforts to mitigate climate change.

In SA, the carbon tax adds to the mounting pressure for companies to become more sustainable. At recent annual general meetings of both Sasol and FirstRand, the JSE-listed groups came under fire for not moving fast enough on climate change considerations. Carbon offsets will be generated from recognised projects that reduce greenhouse gases, such as renewable energy or reforestation projects. These offsets can then be used to reduce that company’s own emissions or can be transferred to another emitter that wants to reduce its carbon tax liability, at which point they become carbon credits.

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