The EU agrees to put a price on_CO2 of its steel or cement imports

The institutions of the European Union today reached an agreement to put a price on the carbon dioxide (CO) footprint₂) imports of iron, steel, cement, aluminium, fertilisers, electricity or hydrogen with the aim of ensuring a level playing field between European undertakings and those of third countries.

Member states and the European Parliament agreed to create a “border carbon adjustment mechanism”, which is part of the “Fit for 55” package presented by the European Commission in July 2021 to get the bloc to reduce its greenhouse gas emissions by 55% by the end of this decade.

Continue reading the news in SWI