Source: Caijing.comAuthor: Yu Kaiqi2022-12-19 16:17
financial networkAuto News, December 19, according to the “Science and Technology Innovation Board Daily”, a few days ago, the official website of the European Council announced that the European Council and Parliament have reached a provisional agreement on issues such as the EU Carbon Emissions Trading (ETS) and Social Climate Fund. The agreement establishes a timetable for ETS companies to reduce free allowances. Starting in 2026, the free allowance will be gradually reduced and will be completely phased out by 2034. Carbon emissions covered by the ETS account for around 40% of total EU carbon dioxide emissions and is the EU’s main policy tool for the reduction of emissions. In order to avoid double protection for EU industry, the time to full implementation of the EU Carbon Tariff (CBAM) is linked to the time to exit the ETS free allowance. This means that the EU carbon tariff will start to fully apply in 2026, one year earlier than the date announced in June this year. According to the provisional agreement on the carbon tariff reached by the European Council on December 14, it has been determined that the EU carbon tariff will start trial operation in October next year, covering industries such as steel, cement, fertilizers, electricity and hydrogen energy.
