EU's Carbon Border Tax - a New Report Shows Africa Stands to Lose U.S.$25 Billion Every Year TC_Africa: Africa AfricaClimateCrisis
The question being raised is whether such climate action is just., we point out that the affected sectors - cement, iron & steel, aluminium, fertilisers and electricity - are key drivers of African economies. We conclude that the new policy will wipe out 0.91% of the continent's combined GDP .
We conclude that the policy is a significant challenge for Africa. It will disproportionately affect African economies - big and small - even though the continent has a limited carbon footprint. But also we note that measures like this are here to stay: what's needed from the EU side is a differentiated approach that can give breathing space for countries to adjust, combined with appropriate finance.
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