Godongwana brings South Africa the good, the bad and very little ugly – Carbon price to increase to USD20/t by 2026 (USD1/year).

Godongwana brings South Africa the good, the bad and very little ugly <www.dailymaverick.co.za/article/2022-02-23-godongwana-brings-south-africa-the-good-the-bad-and-very-little-ugly/?utm_medium=email&utm_campaign=Business%20Maverick%20Thursday%2024%20February%202022_…> Extract:
– The carbon price will increase to $20 per tonne by 2026. To move South Africa to net-zero emissions by 2050, the government plans to progressively increase the carbon price by $1 each year and the basic tax-free allowances will also be gradually reduced. The Budget Review documents point out that this approach is globally aligned. The World Bank’s High-Level Commission on Carbon Prices recommends carbon prices of $40 to $80 by 2025 and$50 to $100 by 2030. Lower minimum prices of $25 to $50 are recommended for developing countries.