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flag South Africa allows carbon credits to offset tax, boosting global carbon market and climate action.

flag South Africa plans to allow the use of Article 6 credits from the Paris Agreement Crediting Mechanism (PACM) to offset its carbon tax, a move seen as a boost for the global carbon market. flag Reports from the OECD and UNDP suggest that accelerating climate action can actually enhance global GDP, with investments in clean energy and efficiency increasing productivity and innovation. flag Border carbon fees are also highlighted as essential for reducing emissions in hard-to-abate sectors. flag These measures collectively aim to drive economic growth while mitigating climate change impacts.

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