The EU’s carbon border adjustment mechanism (CBAM) could slash SA’s exports by a hefty 10% by 2050 — wiping out about 2.6-million jobs in the process, warns the Reserve Bank.

CBAM — the EU’s tool to put a fair price on the carbon emitted during the production of carbon-intensive goods that are entering the EU — is due to be phased in from 2026 to 2034 and will initially cover imports of iron and steel, cement, aluminium, fertiliser, hydrogen and electricity...

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