EP Votes to Retain Free CO2 Quotas for Industry (Int'l.)
Yesterday in Brussels, the European Parliament (EP) rejected proposals to phase out free CO2 pollution credits for industries covered by the EU's Emissions Trading System (EU ETS), even as the bloc plans to gradually replace the scheme with a border carbon tax to shield EU industries from "environmental dumping."
The European Commission (EC) is expected to unveil its proposal for a carbon border tax in June as part of a package of climate laws aimed at cutting the EU's CO2 emissions by 55 pct by 2030. (Source: European Commissions, euractive, 10 Mar., 2021)
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Austria Supports EU Carbon Border Tax (Int'l. Report)
European Union,European Commission
In a recent interview with Frankfurter Allgemeine Sonntagszeitung , Austrian Chancellor Sebastian Kurz called for the introduction of a European Union carbon border tax on imports as a source of income to finance the 28-member trading bloc's coronavirus recovery programmes, and to address the larger issue of climate change and the fight against global warming. Kurz described an EU-wide carbon tax as a "fair and equitable" common support programme to assist EU member countries in coping with the economic fallout of the coronavirus pandemic.
The German and French governments urged the introduction of a carbon border tax in the EU in June and agreed to jointly explore ways to implement it. The tax has also been proposed by the EU Commission's (EC) Green Deal. Germany noted advancing climate action in Europe will be one of its priorities in its EU presidency during the second half of 2020. (Source: Frankfurter Allgemeine Sonntagszeitung, Clean Energy Wire, 13 July, 2020)
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