In a letter sent to MEPs some of Europe’s largest industries lobby groups called the European Union to change their position on the bloc’s planned carbon border policy in a last-minute attempt to preserve protective measures. The industry lobby attempt comes ahead of the European Commission’s widely awaited proposal to impose carbon costs on imports of polluting goods due to be published in June 2021. With putting a price on the emissions of imported goods, the EU hopes to protect European industry from competitors in countries with lax climate policies, and avoid firms leaving Europe to avoid CO2 costs – known as “carbon leakage”. At the same time the proposal aims to cut CO2-emissions allowances for European firms, to avoid giving them ‘double protection’ – but industry wants both.
Source: Reuters
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