Verra Set to Support South Africa’s Carbon Tax
The Carbon Offset Administration System (COAS), administered by the Department of Mineral Resources and Energy, was launched 23 July 2020 and serves two main purposes: 1) to define the procedures through which project developers submit eligible projects and list their credits, and 2) to provide a platform through which emitters can surrender carbon credits against their tax obligations. Over the last year, Verra worked with the government, project developers, and market actors to ensure that VCUs from the Verra Registry can be retired and listed in COAS.
The regulations for the type of offsets that can be used to meet compliance requirements were published in November 2019. To be eligible to generate credits for use in lieu of the carbon tax, projects must be located in South Africa. Projects in the transport, waste and agriculture, forestry and land use (AFOLU) sectors, which are not covered by the tax, can generate carbon credits.
Read more about Verra's work in SA by selecting this link (includes webinar recording & slides)