The European Green Deal (EGD) is a is a set of policy initiatives by the European Commission with the overarching aim of making Europe climate neutral by 2050. These policy initiatives aim to make all sectors of the European Union’s economy fit to contribute to the European Union reaching its climate targets by 2030 in a fair, cost-effective and competitive way. The EGD proposes several action plans and initiatives in priority areas, which include energy, land, biodiversity, clean air, sustainable foods and buildings, among others. South African exporters to the European Union will need to adapt to this change, to assure their long-term competitiveness in a changing market. This study provides an initial look at the EGD and its potential implications for South African trade with the European Union. The particular proposed headline initiative of the EGD in the form of a Carbon Border Adjustment Mechanism is unpacked more specifically in this study, while an analysis of potential opportunities to expand trade associated with “environmental goods” products are also highlighted.
Media release
The European Union’s Green Deal (EGD): A call to action for South African exporters