EU to introduce a package of climate bills

On July 14, the EU authorities will publish a package of bills related to climate change regulation, the fight against greenhouse gases and carbon footprint. It will include 13 initiatives changing the emission quota mechanism, carbon dioxide emission standards for cars, taxation system to stimulate “green” projects, legislation on renewable energy sources and alternative fuels.

Until 2026, CO2 emissions per ton of imported goods will be set by the EU on the basis of average data on carbon intensity of its production, director of tax and legal practice of PwC in Russia Tatiana Shuldyk added. If the manufacturer can prove that its particular case has a smaller carbon footprint, it will be entitled to a recalculation and reimbursement of the fee paid. “After 2026, carbon intensity will be determined based on verified actual data of a particular enterprise,” she added. – Or use data at the level of 10% of the worst emission rates of enterprises in the EU that produce similar products.”

The main objective of European program Fit for 55 in 2030 is to reduce emissions on the continent by 55% by 2030 as compared to 1990 levels. To achieve it, the EU countries are restructuring their economies, encouraging manufacturers to use as environmentally friendly technologies as possible. And not only its own residents, but also importers. Domestic companies can be seriously affected by these measures. The European carbon fee will cost Russian exporters 3.6 billion euros a year, previously estimated the possible losses in the Ministry of Economic Development.