The European Union confirms its intention to introduce a border tax on carbon emissions
A cross-border levy on carbon-intensive imports into the European Union (EU) will be introduced in one form or another, European Commission Vice President for Energy Klaus-Dieter Borchardt said on October 13.
Borchardt confirmed in an interview broadcast to an online audience at the Flame virtual conference that such a mechanism is being formulated, but its exact structure has not yet been agreed upon.
“Something like a carbon boundary adjustment mechanism will be created,” Borchard said. “We are still trying to find a way to create such a mechanism that is compatible with the WTO. We have different ideas. ”
In an interview, Borchardt reiterated that the creation of such a mechanism will be implemented thanks to the willful decision of the current EU president.
The steel industry will be the first on the list of carbon-intensive industries. The European Commission initially plans to focus on the largest commercial sources of emissions.