- The European Union has introduced a carbon border tax that could affect Africa’s exportation and industrialization.
- The President of the African Development Bank warns that this tax could have negative effects on Africa.
- African producers of cement, steel, aluminum, and fertilizers trying to export to Europe will be charged a border tax of 80 euros per tonne.
- Africa deserves a carve-out on the proposed tax because it is funding its transition.
- The use of natural gas is important for Africa’s industrialization.
- Developed countries are changing the rules in the Paris Agreement by forcing developing countries to achieve net-zero carbon emissions earlier.
Source: africataxreview.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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