EU sees carbon border levy as ‘matter of survival’ for industry

BRUSSELS (Reuters) – The European Union’s proposed carbon border charge is essential to the survival of its own industries and the bloc will impose the levy on non-EU competitors unless they commit to lowering their emissions, the bloc’s climate policy chief said on Monday.

The EU’s executive Commission is expected to propose its carbon border adjustment policy before the end of June.

“It’s a matter of survival of our industry. So if others will not move in the same direction, we will have to protect the European Union against distortion of competition and against the risk of carbon leakage,” European Commission Executive Vice-President Frans Timmermans told an online event hosted by consultancy Global Counsel.

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January 22, 2021 at 09:00AM