Post by bonnasuttadhar225588 on Feb 15, 2024 6:08:39 GMT
Deforestation consists of cutting down a large area of trees to change the purpose of the land, which is often used for agriculture or livestock, and although for many it is a "beneficial practice", it has severe consequences such as the displacement of endemic fauna. , the reduction of tropical forests and soil erosion. Unfortunately, the exploitation of natural resources, specifically trees, has caused the loss of 46% of the latter on the earth's surface to date. The worrying thing is that these types of organisms are natural oxygen catalysts, so by reducing them, the natural dynamics are transformed. If we wait too long and excessive and irregular deforestation continues, the results could be devastating for future generations, which is why you need to know the disadvantages of this.In a further effort to decarbonize the European bloc's economy and achieve its 2050 climate goals, European Union governments have reached a new agreement on the carbon border tax. This strategy seeks to send a clear signal to European industry about the urgency of investing in green technologies, according to CNN. However, the move has also raised concerns that the plans could breach current World Trade Organization (WTO) rules and spark trade disputes, contributing to a potential crisis.
Climate ambition increases The historic measure adds a pollution price to certain imports into the European Union. Carbon-intensive industries within the bloc will have to meet strict emissions standards, and the tax is designed to ensure those businesses are not undercut by competitors in countries with weaker rules. According to Mohammed Chahim – a socialist MEP who led the Namibia Email List negotiations for parliament – the carbon border adjustment mechanism (CBAM) will be “a crucial pillar of European climate policies. […]It is one of the only mechanisms we have to encourage our trading partners to decarbonize their manufacturing industry.” border-carbon-tax-1 The measure will still have to be formally approved by the European Parliament and the European Council before it comes into force in 2026. The agreement basically means that importers will have to buy permits for their carbon emissions, at the same price as domestic producers pay. under its emissions trading system in the EU. Until 2030, the CBAM will apply to the generation of iron, steel, cement, aluminum, fertilizers, hydrogen and electricity, as well as some manufactured products such as screws and bolts.
Cars could also be included after a trial period starting in October. Carbon border tax advances European Union (EU) companies in these sectors currently receive a certain amount of free Greenhouse Gas (GHG) emissions allowances under the EU emissions trading system and must then pay for the allowances. to cover the additional GHGs they emit. After October, free allowances will begin to be phased out. "It is one of the only mechanisms we have to incentivize our trading partners to decarbonize their manufacturing industry." Mohammad Chahim, socialist MEP. “European industry faces multiple fundamental challenges on its path to decarbonization,” says Markus Beyrer, director general of BusinessEurope, the pan-European lobby group. “Dramatically high energy prices, coupled with the gap in climate targets between the EU's high ambition and those of other actors, is undermining the competitiveness of European industry so drastically that deindustrialization is happening as we speak,” he concludes. he. But the plan has met resistance from countries such as the United States and South Africa, which are concerned about the impact border carbon taxes could have on their manufacturers. “There are a lot of concerns on our side about how this will affect us and our business relationship.” Katherine Tai, United States trade representative.