Mitigating climate change through carbon pricing: An emerging policy debate in South Africa

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dc.contributor.authorVorster, Shaun
dc.contributor.authorWinkler, Harald
dc.contributor.authorJooste, Meagan
dc.date.accessioned2016-02-18T06:56:50Z
dc.date.available2016-02-18T06:56:50Z
dc.date.issued2011
dc.date.updated2016-02-16T11:23:14Z
dc.description.abstractSouth Africa is considering how best to contribute its fair share to the global effort to mitigate climate change. The domestic policy debate is characterized by a vibrant engagement involving government, business, labour and civil society. The policy option with greatest potential for reducing emissions is carbon pricing through a carbon tax or emissions’ trading scheme. The welfare and development impacts need to be carefully considered. The broader debate considers economic efficiency, environmental effectiveness, welfare impacts, competitiveness impacts, design implications given market concentration, and complexity and transaction costs. This article examines the challenges of pricing carbon given considerations of political economy, such as high unemployment, poverty and lack of access to basic services. The article shows a preference emerging for a carbon tax. A carbon tax does not create equivalent certainty with respect to environmental outcomes, but the tax level can be adjusted to achieve desired emissions reductions. Where the policy priority is price stability a tax is advantageous, providing long-term policy signals to investors, as well as price transparency, fiscal revenue stability, economy-wide coverage of emissions and administrative efficiency. However, three implementation issues need clarity: limiting welfare impacts on poor households; the feasibility of a hybrid model; and integrating carbon pricing with the broader transition to a low-carbon economy.en_ZA
dc.identifierhttp://dx.doi.org/10.1080/17565529.2011.598367
dc.identifier.apacitationVorster, S., Winkler, H., & Jooste, M. (2011). Mitigating climate change through carbon pricing: An emerging policy debate in South Africa. <i>Climate and Development</i>, http://hdl.handle.net/11427/17093en_ZA
dc.identifier.chicagocitationVorster, Shaun, Harald Winkler, and Meagan Jooste "Mitigating climate change through carbon pricing: An emerging policy debate in South Africa." <i>Climate and Development</i> (2011) http://hdl.handle.net/11427/17093en_ZA
dc.identifier.citationVorster, S., Winkler, H., & Jooste, M. (2011). Mitigating climate change through carbon pricing: An emerging policy debate in South Africa. Climate and Development, 3(3), 242-258.en_ZA
dc.identifier.issn1756-5529en_ZA
dc.identifier.ris TY - Journal Article AU - Vorster, Shaun AU - Winkler, Harald AU - Jooste, Meagan AB - South Africa is considering how best to contribute its fair share to the global effort to mitigate climate change. The domestic policy debate is characterized by a vibrant engagement involving government, business, labour and civil society. The policy option with greatest potential for reducing emissions is carbon pricing through a carbon tax or emissions’ trading scheme. The welfare and development impacts need to be carefully considered. The broader debate considers economic efficiency, environmental effectiveness, welfare impacts, competitiveness impacts, design implications given market concentration, and complexity and transaction costs. This article examines the challenges of pricing carbon given considerations of political economy, such as high unemployment, poverty and lack of access to basic services. The article shows a preference emerging for a carbon tax. A carbon tax does not create equivalent certainty with respect to environmental outcomes, but the tax level can be adjusted to achieve desired emissions reductions. Where the policy priority is price stability a tax is advantageous, providing long-term policy signals to investors, as well as price transparency, fiscal revenue stability, economy-wide coverage of emissions and administrative efficiency. However, three implementation issues need clarity: limiting welfare impacts on poor households; the feasibility of a hybrid model; and integrating carbon pricing with the broader transition to a low-carbon economy. DA - 2011 DB - OpenUCT DP - University of Cape Town J1 - Climate and Development LK - https://open.uct.ac.za PB - University of Cape Town PY - 2011 SM - 1756-5529 T1 - Mitigating climate change through carbon pricing: An emerging policy debate in South Africa TI - Mitigating climate change through carbon pricing: An emerging policy debate in South Africa UR - http://hdl.handle.net/11427/17093 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/17093
dc.identifier.vancouvercitationVorster S, Winkler H, Jooste M. Mitigating climate change through carbon pricing: An emerging policy debate in South Africa. Climate and Development. 2011; http://hdl.handle.net/11427/17093.en_ZA
dc.languageengen_ZA
dc.publisherTaylor and Francisen_ZA
dc.publisher.departmentEnergy Research Centreen_ZA
dc.publisher.facultyFaculty of Engineering and the Built Environment
dc.publisher.institutionUniversity of Cape Town
dc.sourceClimate and Developmenten_ZA
dc.source.urihttp://www.tandfonline.com/toc/tcld20/current
dc.titleMitigating climate change through carbon pricing: An emerging policy debate in South Africaen_ZA
dc.typeJournal Articleen_ZA
uct.subject.keywordscarbon taxen_ZA
uct.subject.keywordsclimate changeen_ZA
uct.subject.keywordsdeveloping countryen_ZA
uct.subject.keywordseconomic instrumentsen_ZA
uct.subject.keywordsemissions tradingen_ZA
uct.subject.keywordsenvironmental effectivenessen_ZA
uct.subject.keywordsmitigationen_ZA
uct.subject.keywordspolicy debateen_ZA
uct.subject.keywordsSouth Africaen_ZA
uct.subject.keywordswelfareen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceArticleen_ZA
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