Business people are hoping for a positive outcome of the COP17 United Nations climate change conference in Durban. The objective of the conference is to set carbon emission reduction targets, while trying not to impede economic growth and development. South Africa is committed to reducing national emissions to 34 % by 2020. COP 17 conference runs until December 9.
Resource Economist for KPMG Rohitesh Dhawan says: “One of the tools that South Africa is exploring is imposition of a carbon tax. Now many businesses are still dependent on Eskom for it’s electricity which means that they going to end up paying a very significant tax because of the dominance of coal. But once renewables start entering the energy and the emission profile of our electricity decreases, it’s a real opportunity for business to reduce it’s impact on environment through the purchase of Eskom electricity. What we also have is an opportunity for business to start developing renewable energy to meet their own needs or supply the grid and other users.”
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