Africa may lose $25bn annually to EU carbon border tax

The question being raised is whether such climate action is just., we point out that the affected sectors — cement, iron and 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 problem for Africa. It will disproportionately affect African economies 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.Our models show that the effect of the new measures could be mitigated if African countries diverted their exports to other markets, notably China and India.Take the case of Mozambique.

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