Published by Todd Bush on February 6, 2025
BRUSSELS, Feb 6 (Reuters) - The European Commission may consider exempting 80% of companies due to be covered by its upcoming carbon border levy, the EU's head of climate policy said on Thursday.
EU Climate Commissioner Wopke Hoekstra said the Commission's analysis had found that nearly all of the emissions covered by the carbon border tariff—97%—are produced by just 20% of the companies covered by the scheme.
"So would it then not be smart to leave that roughly 80% off the hook, in terms of the administrative work burden? In my view, it would," he told a European Parliament committee meeting.
"Our current thinking, where you actually apply a huge burden on companies who would then fill out a lot of paperwork, have a lot of things to do, without any merit—that cannot be the solution," he added.
The EU's carbon border levy will from 2026 start applying fees at the EU border on the CO2 emissions embedded in imported steel, cement, and other products.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🏗️ Hyundai Unveils $6B Hydrogen-Powered Steel Mill in Louisiana, Aims to Position State as National Energy Leader 🤝 Deep Sky Inks Next DAC Deal in Germany with Greenlyte Carbon T...
Inside This Issue 🍁 Inside Canada’s Quiet Takeover of the Carbon Capture Industry ✈️ Phillips 66 to Supply SAF to British Airways in Calif 💧 HyVera Distributed Energy Launches Green Hydrogen-On-De...
Inside This Issue 🌍 1PointFive Announces 50,000 Metric Ton Carbon Removal Agreement with JPMorganChase 📊 Carbon Direct Unveils First Empirical Baseline on Carbon Dioxide Removal and Environmental ...
Approval in Principle (AiP) for World's First LCO₂ / Methanol Carrier
Tokyo, June 30, 2025 - Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, and Mitsui O.S.K. Lines, Ltd. (MOL) have acquired Approval in Principle (AiP)(Note1) fro...
KAIST AI Advances CO₂-Selective Material Discovery
_Korea Advanced Institute of Science and Technology_In order to help prevent the climate crisis, actively reducing already-emitted CO₂ is essential. Accordingly, direct air capture (DAC) — a techno...
Arca’s Carbon Removal Methodology Successfully Validated by DNV
Arca, a leader in carbon mineralization technology, has announced the successful validation by DNV, the independent energy expert and assurance provider, of its innovative methodology for permanent...
Massive Investment in Ascension Parish Targets Green Steel, Job Growth, and Hydrogen Infrastructure ASCENSION PARISH, La. — Hyundai has announced plans to invest $6 billion in a cutting-edge, hydr...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.