Synopsis
The EU is now proposing to tighten that cap further, while phasing out the number of free allowances it has long given to industries exposed to trade competition, like steel.
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The EU proposal still needs to be negotiated among the 27 member countries and the European Parliament before becoming law.
The European Union’s sweeping new plan to tackle climate change includes a proposal that if adopted would be the first of its kind: A carbon tariff on imports from countries that aren’t taking similarly aggressive steps to slash their own planet-warming greenhouse gas emissions.
Carbon border taxes, which have been debated for years, are intended to solve a basic problem. If a single country tries to impose policies to cut emissions domestically, it runs the risk that, for instance, its steel and cement factories will face higher costs and be at a disadvantage to foreign competitors with looser environmental rules. If steel and cement production shifts overseas as a
Way out in front : E U races ahead with muscular carbon plan
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Europe Is Proposing a Border Carbon Tax What Is It and How Will It Work?
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IEA Launches Its First Net-Zero Energy Scenario â E3G Reaction Date
The International Energy Agency (IEA) launches its first net-zero energy scenario.
Experts from think tank E3G say report is a ‘turning point for the global gas industry’, a radical transformation of industrial sectors globally’, and ahead of the G7 Germany, Japan, and the US need to accelerate their transition from coal to clean energy
On 18 May, the International Energy Agency (IEA) launches its first net-zero energy scenario, an essential guide for decision makers assessing investment risks and developing energy strategies.
Civil society organisations have long called on the IEA to ensure a net zero scenario is front and centre of the annual IEA publication. Until now, IEA scenarios have not stretched beyond 2040 and have fallen short of a pathway to achieve net-zero emissions by mid-century.