Nick Hedley | What the EU's new carbon border tax means for SA | Business

South Africa's economy is one of the most carbon-intensive in the world because of its unusually heavy reliance on coal for power. This places the country's export-focused industries in an extremely vulnerable position as the European Union and other regions start implementing carbon border taxes in the months ahead.

Because it's rapidly decarbonising its own economy and industries, the EU is imposing a carbon border adjustment mechanism next year – known as"CBAM" – to stop European companies from simply moving their manufacturing facilities to countries with less ambitious clean energy plans. And because EU-based producers have to pay for their emissions, the tax is also aimed at protecting them from imported goods that aren't subjected to the same levies in their own countries.

In short, the main purpose of the tax is to level the playing field for European firms which might otherwise be disadvantaged by the bloc's carbon pricing rules. The CBAM will make sure the carbon price of imports to the EU is equivalent to the carbon price of domestic production, regulators say. It will come into effect in October 2023, although it will be phased in over time.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

nickhedley citizensclimate proposes a carbon fee and dividend: equitable, simple, transparent, effective. Money in your pocket and a better future! Here's the CCL_Aus version:

nickhedley I wonder why people are so fearful of the renewableenergy transition which is inevitably happening despite GwedeMantashe1 doing his best to resist it. A better future. EndCorruption EndFossilFuels EcologicalEmergency ClimateEmergency ClimateAction climatesolutions

nickhedley nickhedley is right.

nickhedley Whatever nick says.... the opposite is true😜

nickhedley Choosing the right investment strategy can reduce your risk and make the most of your money. I have made over R89,670 profit this year regardless the market condition not just by buying the dip but understanding & implementing trade with signals supplied by TrevorCarlson0

nickhedley Meanwhile Europe is going back to coal but they want us a developing country not to use coal which we have in abundance. Green Energy is just a pipedream a study estimates we will only be truly green in 2200. Look at Germany they were supposedly well on their way now back to coal

nickhedley We have so much coal power that we have loadshedding 🤔

nickhedley Ek het nog altyd Bitcoin gehaat en gedink dit is 'n bedrogspul totdat 'n vriend my verwys het na richard1_ray , ek het my eerste onttrekking van R100,000 in 2 weke gemaak danksy richard1_ray

nickhedley Choosing the right investment strategy can reduce your risk and make the most of your money. I have made over 2.3 BTC profit this year regardless the market condition not just by buying the dip but understanding & implementing trade with signals supplied by JamesAlderson0

nickhedley Choosing the right investment strategy can reduce your risk and make the most of your money. I have made over 2.3 BTC profit this year regardless the market condition not just by buying the dip but understanding & implementing trade with signals supplied by JamesAlderson0

nickhedley Choosing the right investment strategy can reduce your risk and make the most of your money. I have made over R89,670 profit this year regardless the market condition not just by buying the dip but understanding & implementing trade with signals supplied by TrevorCarlson0

nickhedley Says someone who probably had enough money to live off the main-grid.

nickhedley Fok. Doos here obviously lives off the grid. Or in Europe. We don’t have “so much of it”, mampara. We have loadshedding constantly because there isn’t enough. What a poephol.

Please don't listen to anything this man says.

nickhedley Trading crypto and investing often carry a considerable degree of risk, given the volatility of Bitcoin and some other digital currencies. If you are not following TrevorCarlson0 you should be, there aren't many who have a better understanding of value investing,

nickhedley When the woke get their way, economies crash and the poor suffer the most. Go woke, go broke.

nickhedley The more hot takes I read from Nick, the more I believe he compulsively licks windows.

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