The debate over the establishment of the Carbon Border Adjustment Mechanism (CBAM) by the European Union and the United Kingdom continues to generate strong reactions, and rightly so. This initiative aims to combat climate change by reducing greenhouse gas emissions and combating carbon leakage, where countries relocate activities to avoid environmental regulations.
In concrete terms, the CBAM involves imposing a tax on carbon-intensive imported products, with the aim of creating fairer competition, promoting the decarbonisation of industry and putting a price on the emissions of imports. However, questions remain as to whether this measure is really aimed at combating climate change or whether it is simply an industrial policy aimed at protecting European industries from foreign competition.
The main sticking point is the disproportionate impact that the CBAM could have on African countries, particularly the least developed ones. Indeed, these countries, which are responsible for a small share of global carbon emissions, risk being more affected by the imposed tariffs, which will reduce their trade options and have negative consequences for their economies.
South Africa, for example, could see its continental GDP decrease by almost 1% and its exports to the EU plummet. This is all the more worrying in a context where youth unemployment is reaching alarming levels.
It is essential that the EU and the UK take into account the inequalities induced by the CBAM and integrate the concerns of African countries in discussions on the implementation of this mechanism. Dialogue and cooperation with these trading partners are essential to find fair solutions that do not further weaken economies already affected by global trade imbalances.
It is also crucial to financially support African countries in their transition to less greenhouse gas-emitting production methods. In the absence of such assistance, there is a risk that countries will turn to other markets such as China and India, which would be detrimental to the African economy.
In conclusion, the CBAM represents both an opportunity and a challenge for the fight against climate change. It is essential to find a balance between protecting the environment and respecting the economic interests of developing countries. Only a collaborative and inclusive approach will ensure a just transition to a more sustainable global economy.