2024-01-08 15:48:33

EU will impose carbon tariff from 2027

On June 22, 2022, the European Parliament voted to approve the proposal of the Carbon Border Adjustment Mechanism (CBAM), which is an amendment to the "draft" of the European Commission. This will be followed by a discussion of the European Parliament's opinion by the Council of the European Union. If the Council of the European Union fully accepts the opinion of the European Parliament, the bill is passed. Now the European Parliament, the European Commission and the European Council have all formed their own CBAM plans. Next, we will see whether the consensus plan can be reached through the "tripartite talks". It is expected that the entire legislative process will be completed before the end of 2022.

If the EU Council fully accepts the "first reading" text of the European Parliament, the EU will impose a "carbon tariff" from 2027 on products ranging from: steel, aluminium, electricity, cement, fertilizers, organic chemicals, hydrogen, ammonia , plastic, etc., and will expand the product range to all sectors covered by the European Union Carbon Market (EU ETS) by 2030.

Important adjustment of Carbon Border Adjustment Mechanism
 

Council position

EU Parliamentary position

Time

arrangement

Transitional period :2023-2025

Start from Year2026

Transitional period :2023-2025

Start from Year2027

Initial covered products

iron and steel,

aluminum,

electricity. cement, fertilizer,

iron and steel, aluminum,

electricity, cement, fertilizer,

organic chemicals, hydrogen, and ammonia, polymers (plastics)

 

 

Type of emission

Direct emissions

Direct emissions

indirect emissions

Definition of

direct

emission

Emissions from

production processes directly

controlled by the

producer

Emissions from production processes directly controlled by the producer,

including heating and cooling emissions

Definition of

indirect

emission

Emissions from

Power generation, heating and

cooling

Emissions from Power

Generation

Extend

covered

products

range in the

future

By the end of 2025, start collecting relevant

information for

analyzing

By the year 2030,it will expand the product range to

 all industries covered by

the EU ETS .

 By June 2025, come up

with a timetable for expanding the product range, prioritizing the industries with the highest carbon leakage

and carbon emission

 intensity .

 By the end of 2025, Add downstream products to

current CBAM controlled

products.

 

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