Belgium, (Brussels Morning Newspaper) The EU Commission welcomed the agreement between the EU Council and Parliament on new carbon emissions rules.
In a statement released on Tuesday, the EC pointed out that the new agreement on the Carbon Border Adjustment Mechanism (CBAM) will help the bloc to tax carbon emissions on imported goods.
EC President Ursula von der Leyen noted that the CBAM “is a central part of our European Green Deal, preventing the risk of carbon leakage.” She described the agreement as “a huge step forward as we raise our climate ambitions.”
Frans Timmermans, Executive Vice President of the EC for the European Green Deal, added that the CBAM will help the EU to “ensure that what we do in the EU does not push up emissions abroad but rather becomes an incentive to replicate our ambition.”
He pointed out that the agreement between the EU Council and EP shows the Commission’s commitment to implement “ambitious climate policies that are WTO-compliant.”
Timmermans stated that the EC’s moves “are putting our economy and society ever more firmly on track towards a climate-neutral future” and will help the bloc to cut its greenhouse gas emissions by at least 55% by the end of 2030.
Valdis Dombrovskis, European Commissioner for Trade, pointed out that the EU continues to decarbonize its economy to reach ambitious environmental targets by the end of the decade.
Expected growth of prices
“Today’s political agreement on the CBAM is a key element of our climate strategy,” he noted and added “putting a price tag on products with a higher carbon footprint will help to prevent carbon leakage while respecting our international obligations in full.”
He concluded that the Commission wants “to take a practical step towards a global system of carbon pricing.”
Paolo Gentiloni, European Commissioner for Economy, pointed out that the EU is closer to launching “the world’s first carbon border adjustment mechanism and I warmly congratulate the negotiators of the EU institutions on this historic achievement.”
He expressed the belief that the move will help the EC to reach its ambitious environmental goals and send a message to producers around the world.
“The EU is serious about cutting emissions… we expect the same level of commitment from industrial firms exporting into the EU, wherever they may be located,” Gentiloni concluded.