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Carbon tariff "boots" landing, how the industry responds

 Last Update: 2022-09-25
 Source: Internet
 Author: User

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On the evening of March 15, the Carbon Border Adjustment Mechanism (CBAM) was officially approved by the EU Council, which means that all European countries support the adoption of carbon tariff measures

In the plan passed by the EU Council this time, the industries subject to carbon tariffs are steel, cement, electricity, fertilizer and aluminum.

According to statistics from the General Administration of Customs of China, in 2021, China's steel exports to the EU will be 22.

As far as China's chemical industry is concerned, although only chemical fertilizers are currently affected by the CBAM policy, the EU may also expand the scope of taxation on the export of other high-carbon chemical products in the future

In order to weaken or even avoid the negative impact of carbon tariff policy on China's chemical industry and enterprises, corresponding countermeasures should be taken from the following three aspects

First, enterprises should increase investment in technological innovation

Second, China should vigorously carry out the construction of China's domestic carbon emission trading system (CN-ETS)

The third is to address unilateral carbon pricing through joint climate action
.
China should actively participate in and lead the process of global climate governance, and strengthen cooperation with the EU in the field of clean energy, including cooperation with other industries that will be affected by mutual investment between China and the EU
.

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