The alarm is being sounded on the European Union’s landmark climate-focused industrial policy, which a new study predicts could cost African countries $25 billion a year and hurt the continent’s lowest-income countries the most.
The EU’s Carbon Border Adjustment Mechanism could damage African exports and increase red tape in accessing European markets, according to researchers from the African Climate Foundation and the Firoz Lalji Institute for Africa at the London School of Economics and Political Science.
“We are in a situation where some of the regions that have contributed [least] to climate change happen to find themselves in a situation where they will see some revenue loss as a result of a climate action measure,” said Faten Aggad, senior adviser on climate diplomacy and geopolitics at the ACF.
About the author
William Worley@willrworley
Will Worley is the Climate Correspondent for Devex, covering the intersection of development and climate change. He previously worked as UK Correspondent, reporting on the FCDO and British aid policy during a time of seismic reforms. Will’s extensive reporting on the UK aid cuts saw him shortlisted for ‘Specialist Journalist of the Year’ in 2021 by the British Journalism Awards. He can be reached at william.worley@devex.com.
