EU Lawmakers Approve World's First Carbon Import Tax and Back Reform of Carbon Market.
TL;DR
The European Union's parliament has approved legislation to tax imports based on the greenhouse gases emitted to make them, enshrining climate regulation in the rules of global trade for the first time. The tax will give credit to countries that put a price on carbon by deducting payments for overseas carbon emissions when goods arrive at EU borders. The legislation will initially cover imports of iron, steel, aluminum, cement, fertilizer, electricity, and hydrogen.
Topics:worldenvironment#carbon-tax#climate-regulation#environment#eu#global-trade#greenhouse-gas-emissions
- World's First Carbon Import Tax Approved by EU Lawmakers The Wall Street Journal
- CNA Explains: What is carbon trading and how does it work? CNA
- European Parliament backs reform of EU carbon market Reuters
- Why adopting the Social Climate Fund is the right choice for the EU EURACTIV
- EU ETS extension could have devastating impact on low-income households EURACTIV
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