A new cross-border carbon tax from the EU could cost South Africa billions, say experts.| City_Press
Nineteen percent of South Africa’s total exports go to Europe and a cross-border carbon tax could cause enormous damage to the exports of the country’s heavy industries, in particular, which are largely dependent on coal for their power generation. Photo:Getty Imageshere are problems ahead for South Africa’s export industry with a new tax from the EU on imported goods produced with coal power.
The union’s new policy of imposing a cross-border carbon tax on the products of countries that rely heavily on coal power could cost the South African economy up to R1.63 trillion over the next 15 years, according to the latest estimates from analysts at S&P Global Ratings.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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