Articles Posted in the Business category

SA must increase its share of the multi-billion-dollar carbon trade

June 13, 2007
Posted in Business

South Africa must position itself to take advantage of the huge carbon market developing internationally, Marthinus van Schalkwyk, the minister of environmental affairs and tourism, said on Friday in a speech at the Western Cape Renewable Energy and Climate Change Summit held in Cape Town.

Africa has a mere 3% stake in the carbon market, which was valued at about $30-billion (R218-billion) in 2006, the minister said. South Africa accounts for about half of that 3%. By comparison, China supplied about 60% of the emission reductions purchased by industrialised countries since 2002.

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