Cement, Steel Energy: this is what you will pay dearly, because the “Green” EU wants it
The European Union plans to impose carbon emission costs on imports of various goods, including steel, concrete and electricity, according to leaked documents obtained by EURACTIV. In practice these products will become more expensive, but, in theory, for the sake of the environment.
The European Commission is expected to propose its carbon border adjustment mechanism on July 14, a move designed to put EU businesses on an equal footing with competitors in countries with weaker carbon policies.
The leaked documents show that the proposal will take the form of a regulation establishing an authority for the carbon border regulation mechanism, with the measure being introduced from 2023 and full implementation from 2026.
The new tariffs would apply to steel, iron, cement, fertilizers, aluminum and electricity, according to the documents, which set out a method for calculating the emissions embedded in imported products.
It will cover both direct emissions – those involved in production "over which the producer has direct control, including emissions from the production of heating and cooling consumed during the production process" – and indirect emissions such as "electricity consumed during the production process of goods ". In the end, the calculation system will be complex and bureaucratic, not useful at all.
Duties for carbon should start with steel, cement and fertilizer, Poland says. Although this mechanism brings all the cost of green clean-up to European consumers, because they will be paying much more expensive products and essential raw materials, yet this still does not satisfy green extremists.
Johanna Lehne, of the E3G climate think tank, said: “The European Commission has postponed the general scheme for months. What we have is a rather limited tool geared towards managing internal interests with respect to external and climatic considerations, ”he said.
Importers will need to provide data for the imported goods, including “a unique identifier assigned by the CBAM authority”, the type and quantity, the country of origin and what calculation was used.
Importers would be required to purchase digital certificates, each representing one tonne of carbon dioxide emissions embedded in imported goods.
The price of the certificates will be linked to the cost of permits in the EU carbon market and based on the average auction price of EU carbon permits each week. These costs are currently skyrocketing.
All the green policy, carbon certificates, and the CBAM we talked about above, will have the consequence of blowing up costs for European consumers, who will no longer have enough income to cope with the lifestyle. they have enjoyed so far. They will pay dearly, they will pay for everything, unique in the world, to pursue the green dream of a handful of politicians.
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The article Cement, Steel Energy: this is what you will pay dearly, because the “Green” EU wants it comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/cemento-acciaio-energia-ecco-cosa-pagherete-caro-perche-lo-vuole-la-ue-verde/ on Fri, 11 Jun 2021 14:41:11 +0000.