Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs, says that the European Commission’s proposed carbon border fee plan imposes EU regulatory norms on other nations and completely contradicts fundamental objectives of the Paris Agreement, TASS reports.
The European Commission’s cross-border carbon tax plan essentially duplicates aspects of the European quotas trading system and effectively imposes EU regulatory norms on other nations. According to Shokhin, this strategy is completely incompatible with fundamental principles contained in the Paris Agreement.
Shokhin noted that the published rule does not give a comprehensive knowledge of all elements of product carbon trace calculations and verification.
As a result, Europe is in a scenario where the global community is being urged to support the establishment of a precedent in cross-border carbon regulation without an understanding of the true impact on greenhouse gas emissions or socioeconomic dynamics in different parts of the world. An effort like this should be considered with all players involved and all dangers associated with the project recognized, according to Shokhin.
