The tax includes a provision under which carbon credits can be utilised to offset part of the emissions over which carbon tax must be paid by large emitters. This offset allowance provided a shot in the arm for South African carbon market which had gone almost dormant since the collapse of the global carbon market in 2008. In response to this upswing in demand for carbon credits from CDM, VCS and GS approved projects the Southern African Carbon Market Industry Association (SACMA) was established.