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EU Agrees To the World's Largest Carbon Border Tax

Tuesday December 20, 2022. 03:02 AM , from Slashdot
Longtime Slashdot reader WindBourne writes: EU is creating a tariff on certain imported goods based on their CO2 emissions that went into production and transportation. While many have opposed this, others have been correctly pointing out that little would change until nations started charging other nations for their polluting the world. In some ways, this already has a number of attributes going for it. With Kyoto, Europe forced that emissions from bio would count at the point where it was harvested and not where it was burned/utilized. This was because Europe is a major importer of bio products for heating and electricity. With this tariff, it will apply any use of bio, including H2, at point of usage, not of production.

What remains to be seen is:
1) How they will apply it to size (Nation? State? City?)?
2) What data will be used (Information from the local government? Satellite?)?
3) How the data will be normalized (GDP? Per capita?)?
4) How to calculate emissions per good (Total emissions? Worst item? Certain parts?)?
This will no doubt cause a number of nations to scream about it, as well as smaller nations, but hopefully, more nations will join in as well. Looks like the world is finally going to get serious about stopping greenhouse gas emissions. 'The measure will apply first to iron and steel, cement, aluminum, fertilizers, electricity production and hydrogen before being extended to other goods,' notes CNN. 'Under the new mechanism, companies will need to buy certificates to cover emissions generated by the production of goods imported into the European Union based on calculations linked to the EU's own carbon price.'

Details of the Carbon Border Adjustment Mechanism can be found here.

Read more of this story at Slashdot.

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