--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20231208-african-development-bank-groups-president-criticizes-eu-carbon-border-tax/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # African Development Bank Group’s president criticizes EU carbon border tax Publication Date: 2023-12-08T23:00:18-05:00 Last Updated: 2023-12-08T22:32:24-05:00 Author: Kim Clarksen (https://www.fertilizerdaily.com/author/kimclarksen/) Categories: [Markets](https://www.fertilizerdaily.com/markets/), [Trade & Policy](https://www.fertilizerdaily.com/trade-and-policy/) ![EU flag with African Union flag on a tree stump isolated](https://www.fertilizerdaily.com/wp-content/uploads/2023/12/eu-flag-with-african-union-flag-on-a-tree-stump-isolated-stockpack-istock-scaled-e1702074720169.jpg) Akinwumi Adesina warned that the measure will harm Africa's trade and undermine its industrial development. The African Development Bank Group’s president has complained that Africa could lose up to $25bn each year as a result of the European Union’s new EU’s Carbon Border Adjustment Mechanism. Akinwumi Adesina warned that the measure – which taxes carbon-heavy goods such as fertilizers and iron with the aim of promoting clean technologies – will harm the continent’s trade and impede its industrial development. Adesina remarked that ‘With Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause de-industrialization.’ He continued by saying that ‘Africa has been short-changed by climate change; now it will be short-changed in global trade.’ Adesina also pointed out that, according to data from the International Renewable Energy Agency, Africa has been overlooked in the global energy transition. He noted that ‘Africa received just $60bn, or 2%, of the $3tn of global investments in renewable energy in the past two decades, a trend that will now impact negatively on its ability to export competitively into Europe.’ The EU’s Carbon Border Adjustment Mechanism entered into effect on October 1 of this year; the transitional phase will run until the end of 2025. Tags: [African Development Bank Group](https://www.fertilizerdaily.com/tag/african-development-bank-group/), [Carbon Border Adjustment Mechanism](https://www.fertilizerdaily.com/tag/carbon-border-adjustment-mechanism/), [EU](https://www.fertilizerdaily.com/tag/eu/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.