Waste to energy initiatives which reduced gas emissions at the City of Cape Town landfill sites has seen the municipality successfully auction off R36 million in carbon credits. ‘We welcome this initial return of R36m from our first carbon credit auction. Carbon credits are permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases (GHGs). Carbon credits are also known as carbon offsets. The Carbon Offset Administration Systems facilitates for the listing, transfer and retirement of carbon credits to offset carbon tax liabilities.

Source: The North Africa Journal July 17, 2024 01:35 UTC