News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise

Taxation & Regulation South Africa

Subscribe & Follow

#CannesLions

Advertise your job vacancies
    Search jobs

    EU carbon price on imports ‘violates’ WTO rules, says Patel as SA heads for clash with bloc

    The EU insists that its plan to put a price on the carbon emissions of some imports from 2026 is intended purely to counter global warming. But South Africa contends that, in reality, the EU’s carbon border adjustment mechanism (CBAM) is a unilateral and protectionist trade measure that will cost the South African economy more than R2bn a year.
    Source:
    Source: Pexels

    EU trade commissioner Valdis Dombrovskis says the CBAM is designed to help the EU to reach its ambitious target of carbon neutrality by 2050. The mechanism will not distort trade as the EU intends to put the same price on the carbon emissions of imports as it does on those of its own producers, so the CBAM is compliant with World Trade Organization (WTO) rules.

    But Minister of Trade, Industry and Competition Ebrahim Patel retorts that the CBAM cannot be considered compliant because the WTO has not signed off on it, and South Africa is consulting other countries about a possible challenge to the mechanism at the WTO.

    Read the full article by Peter Fabricius at Daily Maverick.

    Source: Daily Maverick

    Daily Maverick is a unique blend of news, information, analysis and opinion delivered from our newsrooms in Cape Town and Johannesburg, South Africa. There are many ways to describe exactly what we do (and for the price of a cup of coffee we’re capable of talking your ears off about it), but the best way to understand the end result is to experience it. Every part of Daily Maverick is free-to-air and no payment is required, although free registration is required for a small subset of functions and pages.

    Daily Maverick is run by an independently owned, private company with no affiliation to any other media group (or political party or religious organisation.) Follow Daily Maverick on Twitter at @dailymaverick.

    Go to: https://www.dailymaverick.co.za/
    Let's do Biz