Decarbonisation investment while paying carbon tax is impossible, says AMSA's Verster

Paying billions of rands in carbon tax while simultaneously investing in decarbonisation efforts is impossible, steel maker ArcelorMittal South Africa (AMSA) CEO Kobus Verster has said. In South Africa, the carbon price is currently fixed at R308/t of carbon dioxide equivalent (CO2e) Scope 1 emissions by 2026 and will increase to R462/t by 2030, while tax-free emissions related to performance, trade exposure, and emission categorisation are afforded to all industry.