• EU: border carbon tax

    From MrPostingRobot@kymhorsell.com@21:1/5 to All on Fri Jun 4 10:38:54 2021
    XPost: alt.global-warming

    *EU plans carbon market-linked import levy on steel and cement

    Ewa Krukowska and Alberto Nardelli, Bloomberg via Carbon Brief

    The EU is planning to impose a carbon border tax on imports of steel,
    aluminium and cement via a mechanism linked to prices on the bloc's
    emissions trading system (EUETS), Bloomberg reports, citing "a person
    familiar with the proposals due to be unveiled next month". The
    website says the European Commission is to unveil the proposals on 14
    July as part of a broader package designed to help meet the EU's new
    55% by 2030 emissions reduction target. It says the border adjustment
    scheme could run in a transitional period of up to 3 years from
    2023 to 2026 before fully entering into force, citing a draft proposal
    "which may still change before publication". Separately, the Sydney
    Morning Herald reports that Australian prime minister Scott Morrison
    "will head to the G7 meeting at the end of next week with a promise to
    take Australia towards net-zero carbon emissions, but a strong
    objection to trade measures that try to punish countries for not
    having ambitious targets".

    Meanwhile, Energy Monitor has an article titled: "Why European carbon
    prices could be higher for good." It says: "The price of carbon in
    Europe has doubled this year, and some believe it could double
    again. Europe's emitters face a new paradigm of structurally higher EU allowance prices." Separately, the Hill reports the comments of US
    senator Sheldon Whitehouse predicting a "big fight" over carbon
    pricing in the senate this year.

    Upcoming events:
    9 Jul 2021 NOAA bn Dollar Disasters Q2

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