The EU’s cross-border carbon tax is poised to have a huge impact on South Africa’s economy once it is implemented in 2026.
A new EU policy imposing a cross-border carbon tax on imports from countries that rely heavily on coal power could cost the South African economy R1.63 trillion over the next 15 years.
The vision for this new tax is that it would reduce Europe’s greenhouse gas emissions by at least 55% by 2030. As of now, the plan is for the carbon tax to be implemented in 2026. It would initially affect South Africa’s iron, steel, and aluminium sectors.Gwede Mantashe, South African minister for mineral resources and energySouth Africa’s reliance on coal power is well documented, with mineral resources and energy minister Gwede Mantashethat a “part of the load-shedding we are experiencing is due to an effort to move away from coal quicker than we could”.
“South Africans must never allow ourselves to be encircled by the developed nations who fund lobbyists to pit our country’s developmental needs against their own self-serving protection of the environment,” he said.Former Eskom CEO Jacob Marogathat Eskom’s best chance of solving load-shedding is focusing on its existing coal infrastructure, rather than prioritising independent power producers — who often provide renewable energy alternatives.
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