Such a move could also affect South African exporters, considering the country’s status as one of the world’s largest emitters of greenhouse gases.
In the 15 years to 2040, CBAM could cost SA $91.8 billion, according to S&P, which notes that iron and steel exporters will be most affected. Also in the report, Nedbank CEO Mike Brown wrote:"We firmly believe that South Africa’s path to net zero is, over time, also our path to energy security."
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