The first phase of a pioneering system to impose CO2 emissions tariffs on imports like steel and cement, aiming to equalize the cost of pollution between EU industries and foreign producers was initiated on October 1st 2023. Starting 2026, EU importers must buy certificates for the greenhouse gases produced by these goods. The measure seeks to promote global green production and uphold the EU’s climate goals, despite concerns from trade partners like China.
The European Union launched on Sunday the first phase of the world’s first system to impose CO2 emissions tariffs on imported steel, cement and other goods as it tries to stop more polluting foreign products from undermining its green transition.
Source: EU launches first phase of world’s first carbon border tariff | Reuters