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EU carbon tariffs are expected to receive about 10 billion euros per year

 Last Update: 2021-08-06
 Source: Internet
 Author: User

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British media disclosed on the 6th that after the European Union began to impose carbon tariffs, it is expected to earn about 10 billion euros a year
.

The funds claimed to be aimed at addressing global climate change will be used to repay EU debt

The European Commission plans to gradually introduce from 2023 carbon tariffs for companies to make adjustments during the transition period, "reduce the burden on trade flows and trade operators as far as possible"
.

Carbon tariffs are levied on imported goods from countries and regions with relatively loose carbon emission restrictions.
The first batches include steel, cement and fertilizers

According to the legal text, the carbon tariff revenue will be used to support the European Union's 750 billion euro recovery fund to help EU member states recover their economies after the new crown epidemic

However, several EU officials said that the European Commission may adjust the content of the text before the final version is approved next week

Many trading partners of the European Union have previously reminded that the “carbon border adjustment mechanism” should be compatible with the trade rules of the World Trade Organization and should not be a tool of protectionism

The European Parliament voted in March this year to support the establishment of a “carbon border adjustment mechanism”, which aims to address climate change by avoiding “carbon leakage” and achieve the benchmark targets of the “European Green Agreement” and the more ambitious EU 2030 reduction.

In December 2019, the European Commission announced the "European Green Agreement", proposing to be the first to achieve carbon neutrality by 2050, that is, to reduce net carbon dioxide emissions to zero

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