President Cyril Ramaphosa has signed the Carbon Tax Act into law and it will come into effect on June 1, the National Treasury said on Sunday. The Act was gazetted on May 23, together with the Customs and Excise Amendment Act, the Treasury said in a statement. "Climate change represents one of the biggest challenges facing humankind, and the primary objective of the carbon tax is to reduce greenhouse gas emissions in a sustainable, cost effective, and affordable manner. Government has outlined its strong commitment to play its part in global efforts to mitigate GHG emissions as outlined in the National Climate Change Response Policy of 2011 and the National Development Plan of 2012," the Treasury said.
