European Union countries on Tuesday backed the bloc's plan to impose a world-first carbon dioxide emissions tariff on imports of polluting goods, although the finer details will need to be worked out in upcoming negotiations.
The EU wants to introduce CO2 emissions costs from 2026 on imports of steel, cement, fertilisers, aluminium and electricity -- a move aimed at protecting European industry from being undercut by cheaper goods made in countries with weaker environmental rules.
"We're making the effort to reduce carbon emissions in industry. ... We don't want these efforts to be of no avail because we import products which contain more carbon," Le Maire said. That goal will require huge investments from industry in green technologies like hydrogen and impose higher CO2 costs on polluters. The border levy aims to create a "level playing field" by imposing the same CO2 costs on EU companies and those abroad.
Ministers did not decide how quickly the border levy should replace the free CO2 permits industries currently receive under the EU carbon market, however. The phasing out of those permits is contentious, and ministers said it would be negotiated in separate talks on EU carbon market reforms.
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