[ad_1]
All eyes are on the targets set by the USA and China, which currently produce the largest share of greenhouse gases, and more importantly on how they will achieve these targets.
China and India They publicly criticized the idea of a carbon cap tax. Japan is not enthusiastic. And the United States said it was only considering the idea of its own carbon cap tax.
It is still unclear exactly which products the tax will target. The United States, for example, is particularly concerned about the potential impact on steel produced in the United States, and it is not yet clear whether the border duty proposal will take into account the carbon emission intensity of imported steel.
The United States is in a difficult position regarding a possible European border tax. The Biden administration is keen to re-establish transatlantic alliances, including on climate change. Still, without the prospect of carbon pricing legislation in the United States, few US companies may be vulnerable.
The Biden administration has shaken the prospect of a carbon cap tax on its own, though prospects will likely be weak in a divided Congress. “This is definitely not off the table in any of the discussions,” said White House climate adviser Gina McCarthy. said at a conference on Tuesday Edited by Bloomberg. “There are many ways to look at a carbon cap adjustment here as an opportunity.”
Other aspects of the legislative package may be controversial within the 27-nation European bloc itself. For example, efforts to phase out sales of new internal combustion engine cars may face objections from some European automakers. (Bloomberg reported this week that France opposes the proposed 2035 ban on sales of new gas-fired cars.) Efforts to phase out coal from power generation will likely face opposition from countries with large coal operations, such as Poland and Hungary.
The timing of the European draft legislation is key, designed to highlight Europe’s position in advancing climate policies and put pressure on other major emitters, including China and the US.
“This will be the first attempt to say we have a set of policies, very precise policies, alongside the numbers we have committed to,” said Laurence Tubiana, president of the European Climate Foundation and former chief climate negotiator for France. United Nations climate talks said in an email statement.
[ad_2]
Source link