Genesis counts cost of mooted carbon tax for industry
Genesis was appointed to undertake an economic study by the Industry Task Team on Climate Change (ITTCC). The purpose of the study was to assess the impact of the National Treasury’s proposed carbon tax within the context of rapidly increasing energy costs and the anticipated additional costs of adapting to climate change.
As part of the assignment, the project team assessed the extent to which higher energy costs would affect the stakeholders’ future investments, operational decisions, employment practices and competitiveness, and outlined measures to mitigate the negative impact on the various companies.
In response to the concerns outlined in the study and to stakeholder concerns about the potential impact of a carbon tax, the National Treasury revised certain key aspects of its proposed carbon tax implementation plan.
We have continued to provide ongoing advice to the client in their engagements with National Treasury.