2023-04-24 14:32:33
Here is the next step towards the EU’s big green plan. The Strasbourg parliament approved three reforms of the EU program, which aims to reduce CO2 emissions by at least 55% by 2030 compared to 1990 levels. The price of the transition will be paid by the little people.
The three reforms a emissions trading system (ETS), the Social Climate Protection Fund and finally the Carbon Dioxide Emission Limitation Mechanism (CBAM) were adopted by the European Parliament a few days ago. The EU’s climate policy agenda appears to be an inescapable process. The only problem with this is that the plan will be very expensive, and as always, citizens and businesses will pay the price.
Although the reform still has to go through the European Council, it is only a formality. The European Parliament, together with the EU Commission, has already discussed the regulations from beginning to end, and as we have seen in the case of the ban on new diesel and gasoline cars from 2035, the European green agenda is moving forward quickly.
ETS reform, reduction of emission quotas for houses and cars
According to the reform of the ETS, emission allowances must be paid for CO2 emissions. In practice, the more we emit, the more we pay. Until now, the ETS has been applied to energy-intensive industrial sectors, but from 2027 this regulation will extend the quotas to car fuel and gas used for heating households. If energy prices become very high, the rule can be delayed by a year, but following 2028 you will have to pay whether you like it or not. The rule is extended to air transport and sea transport. Free allowances for the aviation industry will be phased out by 2026 and the sector will be shifted towards sustainable jet fuels.
Social Climate Protection Fund and carbon dioxide fees
Almost as an acknowledgment of the costs borne by citizens, the EU introduced the Social Climate Protection Fund of approximately 65 billion euros with the aim of helping the most distressed consumers and small businesses.
The last reform is the carbon dioxide adjustment at the border, which will force importers of certain products to buy emission permits for the production of imported goods.
Opponents pointed out that carbon dioxide tariffs make the European production of imported parts and devices more expensive without compensation. This would particularly affect the steel industry extremely seriously. The decisions made by the European Union for the green transition may therefore have an additional impact on energy prices, which may further increase the inflation and speculation already experienced in recent months, and ultimately favor the decline of industrialization and the total impoverishment of some social strata.
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