The carbon adjustment mechanism at the borders, established by the European Union, will be introduced as of October 1, 2023. Thus, non-European countries must all adapt to this new situation and move more towards green energy. Morocco is also concerned and must take up “the challenge”. However, the carbon tax is rather an opportunity for the kingdom and will be an undeniable lever for the development of national industry and the competitiveness of “made in Morocco”.
The European Union is committed to greening its economy and achieving carbon neutrality by 2050. To this end, it has introduced the world’s first border carbon tax, which will be introduced as of October 1, 2023, as a first transitional stage, before coming fully into force on January 1, 2026.
Initially, this system will only require the declaration of a carbon footprint. It will concern some of the imported products “most exposed to a risk of carbon leakage”, such as cement, iron, steel, aluminum, fertilizers, electricity and hydrogen. Thus, the Carbon Border Adjustment Mechanism (CBAM) aims to set a carbon price for imports of these products into the EU. The objective is to push non-EU countries to increase their climate ambitions and thus fight against the harmful effects of climate change.
Morocco, a strategic partner of Europe and a country whose economy is open to the outside world, should therefore take advantage of this new situation which imposes other requirements and sets new standards in the international industrial environment. An environment in which the greening of industry is no longer a choice, but an imperative, even an emergency.
In this sense, the carbon tax should constitute, for the kingdom, an opportunity to be seized, much more than a challenge.
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