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European Union plans to implement emissions trading tax
来源：Shipping News Headlines 编辑：编辑部 发布：2021/06/09 11:56:12
THE European Union is planning to implement an import levy on steel, cement, and aluminum produced in countries with lower environmental standards, reports Bloomberg News.
The projected tax will impose a penalty for bringing into the bloc emission rooted in goods and will be based on carbon costs domestic producers already face.
Importers will have to buy special certificates at a price from the EU Emissions Trading System. Meanwhile, carbon prices in that market have increased this past year.
For instance benchmark permits to pollute increased to US$69.23 in mid-May. The price of certificates will be calculated as the average of the closing prices of all government auctions of carbon permits.
The plan is a part of a broader initiative to align the EU economy with stricter emissions-reduction targets for 2030. The primary goal is for Europe to become the world's first climate-neutral continent by the middle of the century.
Debates are expected to brew regarding the potential climate tax while the EU wants to focus on providing a level playing field for its businesses and encourage more climate action from other nations.
The planned tax is also being proposed just a few months before a significant climate summit hosted by the UK.
The projected tax will impose a penalty for bringing into the bloc emission rooted in goods and will be based on carbon costs domestic producers already face.
Importers will have to buy special certificates at a price from the EU Emissions Trading System. Meanwhile, carbon prices in that market have increased this past year.
For instance benchmark permits to pollute increased to US$69.23 in mid-May. The price of certificates will be calculated as the average of the closing prices of all government auctions of carbon permits.
The plan is a part of a broader initiative to align the EU economy with stricter emissions-reduction targets for 2030. The primary goal is for Europe to become the world's first climate-neutral continent by the middle of the century.
Debates are expected to brew regarding the potential climate tax while the EU wants to focus on providing a level playing field for its businesses and encourage more climate action from other nations.
The planned tax is also being proposed just a few months before a significant climate summit hosted by the UK.