It is based on a plan that includes setting strict standards for industrial emissions and amending the tax system

The European Union is reshaping the economy to face “climate change”

The European Union plans to become the first economic power to impose an import tax based on its carbon footprint.

archival

The European Union intends to become the first economic bloc in the world to reduce greenhouse gas emissions by 55% by 2030, in preparation for reaching zero in 2050, as part of a serious attempt to confront the phenomenon of climate change.

The union's plan to achieve this goal depends on ending the economy's dependence on fossil fuels through three large and stricter policy and regulatory tools: setting standards for industrial emissions, amending the tax system, and creating rules to promote investment in emissions-reduction technology.

emissions trading تداول

The European Union has so far succeeded in reducing its emissions by 24 percent from 1990 levels, but is now targeting some of the biggest sources of pollution, including power plants, factories, cars, planes, charging and heating systems, the Financial Times reported.

She explained that the union is set to reduce emissions sharply through the emissions trading system, which works to reduce the emissions of major industries, such as steel by buying carbon credits to cover the cost of their emissions.

The newspaper pointed out that the European Commission is proposing to extend the system to the shipping industry for the first time, and airlines that must pay emissions costs on flights within the European Union.

She added that among the most controversial proposals, a plan to increase heating and gasoline bills for consumers who cannot easily switch to environmentally friendly alternatives.

carbon limits

According to the Financial Times, the European Union plans to become the first major economic power to tax imports based on its carbon footprint, a so-called carbon cap mechanism where companies can move their operations to other locations to avoid being subject to green regulations.

The tool will initially be limited to products such as steel, cement, aluminum and fertilizers, with Russian and Turkish exporters expected to be hit the most.

energy taxes

The newspaper reported that Brussels aims to increase carbon taxes on hydrocarbons by modernizing energy tax rules, by imposing taxes on jet fuel and polluting fuels in the shipping industry for the first time and closing the loopholes that allowed European Union governments to exempt fossil fuels.

clean cars

The newspaper said Brussels wanted carmakers to set stricter emissions standards for new vehicles sold across Europe in order to cut 90% of emissions from transport.

green fuel

Brussels wants to help the industry set rules to promote the development of green fuels, speed up the introduction of electric car charging points, ensure car charging stations are available every 60 kilometers, and set up more hydrogen fueling stations for small and large trucks.

It also aims to enhance natural carbon discharges, where soils and forests can absorb carbon dioxide from the atmosphere, to help achieve its 2030 goals.

Al-Ittihad intends to reduce emissions by 55% by 2030, in preparation for reaching zero in 2050.

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