The European Union (EU) starts the initial phase of its plan for the world's first carbon border tax next month, requiring importers to report the carbon dioxide (CO2) emissions of products sold into Europe, such as steel and cement, or risk financial penalties. The aim of the new regime is to prevent domestic EU industries from being undercut by more-polluting foreign competitors, while they invest in reducing emissions.
The European Union starts the initial phase of its plan for the world's first carbon border tax next month, requiring importers to report the carbon dioxide emissions of products sold into Europe, such as steel and cement, or risk financial penalties.
Turkey, Ukraine, China and Russia are expected to have the biggest volumes of exports affected by the COIndustries in Europe, Ukraine and Britain said they expected little initial impact, but warned of potentially significant fallout when the full COlevy's trial phase will require companies importing steel, cement, aluminium, electricity, fertilisers and hydrogen into the EU to report the emissions involved in producing those goods.if they don't report.
"However, questions arise regarding the cost of this adaptation and the competitiveness of Ukrainian products in 2026," the spokesperson said, citing companies' limited ability to invest in decarbonisation during wartime.price equal to the EU's. That could benefit Ukraine, which is aligning its climate policies with the EU's, as it bids to join the bloc.
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