Katie Kouchakji Policy - 11/May/2020

Using trade measures for climate gain

Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions

LEAKAGE CONCERNS
Fears that industry could move out of Europe to countries with less strict emissions reduction regulations have been voiced ever since the EU introduced its Emissions Trading System 15 years ago. The EU is now examining how it can introduce a carbon border tax and use trade as a means to push climate action around the world

OPPOSITE EFFECT
There is a danger the EU’s efforts could backfire and do more harm than good in terms of climate action

KEY QUOTE
“There is no point in only reducing greenhouse gas emissions at home, if we increase the import of carbon dioxide from abroad” ...

 

Try FORESIGHT - 30 days for €29

Already a subscriber?

Login



Comments are closed.

Related articles

Spring/Summer 2020

Getting the finance to flow

Read more

EU ushers in game-changing financial rules

An EU taxonomy to define green investments is expected to enter into force in 2021, but some experts want it to be used immediately to inform stimulus packages aimed at dealing with the social and economic fallout from the Covid-19 pandemic

Read more

Getting the finance to flow

To create demand for sustainable finance, governments should integrate climate criteria into their procurement and in how they draft policies and regulations

Read more

Responsible investors see greater role after pandemic

Investors taking ESG issues into account are increasingly examining future scenarios, particularly around climate change

Read more

Financing smart buildings: contributing to your core business

Making buildings greener and more energy efficient makes environmental and economic sense if the right financing solutions are used, says Thomas Geiselbrecht, Financing Solution Partner, Siemens Financial Services

Read more

Managing crises by learning fast – from COVID-19 to climate

Investments spent on dealing with the social and economic impacts of Covid-19 in Europe should focus on achieving the highest value outcomes in line with the objectives of the European Green Deal, insists Simon Skillings from think tank E3G

Read more

Stimulus funds can transition economies away from climate wrecking activity

The coronavirus is a deadly human tragedy, causing untold grief and pain. It is also rocking the world’s economies as people lose income and businesses struggle to stay afloat. Yet there are lessons to be learned for the climate crisis

Read more

Making the EU ETS and carbon pricing fit-for-purpose

Recent Eurelectric analysis reveals the need to reconsider and improve a number of policies and priorities as part of the European Green Deal — the EU Emissions Trading System and an effective carbon pricing for non-ETS require careful consideration, says Petar Georgiev, Eurelectric Policy Advisor climate & e-mobility

Read more

EU ETS revenues can help unlock the clean energy transition

A recent World Bank study reveals global carbon revenues are rising sharply, but only around 42% are used for environmental projects. It shows European and American citizens prefer their governments to spend carbon revenues on low-carbon initiatives, so why is political will lagging behind asks Susanne Dyrbøl from Rockwool Group

Read more

Central banks swept up in climate action debate

Many believe the ECB and other central banks should bring climate considerations into the rulebook governing what they support and how

Read more

China: the elephant in the coal room

China has pledged to peak carbon emissions by 2030 at the latest, but its economic plan for 2021-2025 is expected to approve the building of more coal-powered plants

Read more

Danish firms want regulatory rewards for climate action

Politically there is broad support in Denmark for financing the green transition through taxes and a carbon emissions tax proposal has been welcomed by parties across the political spectrum, but industry opposition could ultimately quash the idea

Read more

Development banks struggle with fossil fuel lock-in

The world’s development banks are funnelling ever-greater volumes of finance into clean energy — but the challenge of shifting entire economies away from climate-wrecking activity and towards actions that align investment goals with those of the Paris Agreement requires a more holistic approach

Read more

Finance dries up for coal, but flows on for oil and gas

COVID-19 may have reduced emissions in the short-term, but much more needs to happen to slash fossil fuel use to meet climate targets

Read more

The dirty British energy secret

The UK is often cited as a leader in the transition to a clean energy economy, even though some British public money still flows to oil and fossil gas projects overseas

Read more