Jacques Chirac dreamed of it;
the European Union ended up doing it.
Under continuous pressure from France for two decades, and despite the fears of northern European states attached to free trade, the European institutions have finally implemented the carbon border tax project.
A historic turning point for the European Union, which is going on the offensive to export its climate ambitions, but also a new weapon to guarantee the competitiveness of European industry.
To discover
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How will this “tax” work?
Since 2005, companies in the most polluting sectors in Europe must cover their emissions each year by buying carbon quotas at a price, currently 85 euros per tonne.
If a company's emissions exceed its quotas, it risks a heavy fine at the end of the year.
If, on the contrary, it has bought too many rights to pollute, it can keep them for the following year, or resell them.
An effective mechanism, but considered penalizing for European competitiveness
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