Professor H. Winkler, Director of the Energy Research Centre: University of Cape Town, commended the agreement among stakeholders on the need to reduce carbon emissions. He emphasised, however, that no single instrument or sector could do it all. Pricing is an important issue and the Energy Research Centre's analysis pointed to the fact that the proposed carbon tax rate is not sufficient to transform the energy sector. The minimum threshold would be to apply R120 to 40% of emissions, which will have a bigger marginal effect on the sector.