Innovations
Monday, 12 August 2013 09:59

Calculating your journey towards a low-carbon economy

Promethium Carbon supports the transition towards a green economy by launching its Carbon Calculator.

“As one of the biggest emitters of greenhouse gasses in the world, South Africa has to do something. By 2015 countries with carbon pricing policies will account for three-quarters of the world’s GDP.” – Robbie Louw, director of Promethium Carbon

Promethium Carbon recently launched its Corporate Carbon Footprint Tool. The tool was designed to do a basic calculation of an organisation carbon footprint, based on energy consumption and other data. It offers a tutorial on the use of the tool with reference to the source documentation.

The tool reports on Scope 1 and Scope 2 emissions by analysing the carbon footprint against the currently indicated regulatory framework with respect to the following issues:

• Requirements for mandatory reporting.

• Requirements for the submission of greenhouse gas (GHG) mitigation plans.

Carbon tax impacts in terms of: Scope 1 emissions:

  • Access to relief measures.

Impacts of offsets. Scope 2 emissions:

  • Access to relief measures.
  • Impacts of offsets.

The 2013 Budget Review of South Africa states: “With effect from 1 January 2015, a carbon tax at a rate of R120 per ton of CO2 equivalent is proposed, with the rate increasing at 10% a year during the first phase of implementation. During this first phase (between 2015 and 2020), a basic tax-free threshold of 60% is proposed.  This threshold can be adjusted upwards or downwards depending on the efficiency of the company relative to other companies in its sector. The proposed tax design also provides for access to relief measures of up to 10% for ceratin industries as well as offset percentages of 5-10%.”

The Promethium Corporate Carbon Footprint Tool is the first step companies can take in the process of getting to know their carbon footprints in order to assess a company’s tax liability. The tool is also simple to use, as it specifically operates within a South African context and is able to efficiently highlight a company’s carbon risk.

The tool is based on industry standard regulations and current best-practice documentation, including:

• The Greenhouse Gas Protocol.

• The South African National Climate Change Response White Paper.

• The 2013 Carbon Tax Policy Paper as published by the South African National Treasury.

The South African regulatory environment is changing fast. A number of these changes will require that companies know their carbon footprint emissions, which makes the Promethium Corporate Carbon Footprint Tool an ideal solution for companies who aim to stay ahead of the environmental race.

The calculator is available to download at www.25degrees.net.

 

Promethium Carbon

Tel: +27 11 706 8185

Website: www.promethium.co.za