Image - 24 October 2024

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Contacts

Felicity Hudson

Press contact Head of Reputation Management Discovery Group media_relations_team@discovery.co.za 0115294514

Nthabiseng Chapeshamano

Press contact Senior Reputation Manager Discovery Group Sustainability, Discovery Green and Discovery Insure nthabisengc@discovery.co.za

Zeenat Moorad

Press contact Senior Reputation Manager Banking | Vitality | Sponsorships zeenatm2@discovery.co.za

Karishma Jivan

Press contact Senior Reputation Management Consultant Healthcare & Sustainability karishmaj2@discovery.co.za

Lianne Osterberger

Press contact Senior Manager: Media Relations and Reputation Management LianneO@discovery.co.za 083 27 27 313

Hannah Newbold

Press contact Reputation Management Consultant Insure & Invest hannahn@discovery.co.za

New research from Discovery Green and EY highlights the impact of rising carbon taxes on the electricity costs of South African businesses.

Key findings:
South Africa’s heavy reliance on coal for electricity generation makes it one of the world’s most carbon-intensive economies, exposing local businesses to significant financial risk from global and local carbon taxes. By 2034, carbon taxes could make up over 35% of electricity generation costs. South African businesses face a ‘double whammy’: Local carbon taxes are expected to i