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Africa sees new wall in EU s carbon border scheme [Business Africa]

The Carbon Border Adjustment Mechanism (CBAM) is the European Union s measure to encourage countries where it sources imports to adopt cleaner manufacturing. Experts say the scheme will cut Africa s GDP by $25 billion a year and hurt the competitiveness of the continent s exports

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EU s carbon border tax: a new report shows Africa stands to lose US billion every year

Melanie Lamprecht / ShutterstockA new European law that imposes the first ever carbon border tax in the world comes into force in October 2023. It will be applied gradually over the next three years before it is fully implemented. A carbon tax is a type of levy imposed on greenhouse gas emissions. It is meant to encourage companies to adopt clean methods of production. But firms could get around the tax by moving production units outside the EU to countries with less strict terms, such as those

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EU s carbon border tax: A new report shows Africa stands to lose $25 billion every year

EU s carbon border tax: A new report shows Africa stands to lose $25 billion every year
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Africa: EU s Carbon Border Tax - a New Report Shows Africa Stands to Lose U S $25 Billion Every Year

Africa: EU s Carbon Border Tax - a New Report Shows Africa Stands to Lose U S $25 Billion Every Year
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EU s carbon border tax: a new report shows Africa stands to lose US$25-billion every year

EU s carbon border tax: a new report shows Africa stands to lose US$25-billion every year
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