Everyone in Europe will now pay for CO2 emissions

Everyone in Europe will now pay for CO2 emissions - Printable Version

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Everyone in Europe will now pay for CO2 emissions - Stone - 12-19-2022

Computer translated from the Dutch site NosNews December 18, 2022;

Everyone in Europe will pay for CO2 emissions

The bullet went through the church last night after long negotiations: residents of the European Union have to pay for the greenhouse gases they emit. This means that with every refueling and when the heating is switched on, it must be paid because of the harmful substances that are released as a result.

People who insulate their homes well, purchase a heat pump or switch to an electric car can receive a subsidy from a special fund. There will also be money for people who have less to spend, also as a result of inflation. More than 86 billion euros is available in that fund.

CO2 emissions must more than halve

The measures are part of a package of climate laws. CO2 emissions must decrease by 55 percent by 2030. European industry, which already has to do this in part, will have to deal with higher emission costs, and companies from outside Europe will pay at the border for their emissions. The money that is collected with this can be spent on climate plans.

Citizens and companies have to pay for the CO2 from the exhaust and the chimney. This is done via energy companies and pumping stations. They have to pay for emission allowances and then pass on the costs to the customer who comes to refuel or turns on the gas heater.

"I am pleased that a balanced agreement has been reached on the largest climate legislation package in the EU ever," said MEP Esther de Lange ( CDA ). She was one of the negotiators and responsible for coordinating the Green Deal and chief negotiator for the Social Climate Fund.

"With this deal, we are drastically reducing emissions in Europe, but in a socially responsible manner without killing European industry. The introduction of ETS for transport and buildings is necessary to achieve our climate goals. This cannot be done without social measures to help people make this transition. European companies and families are already confronted with exceptionally high energy prices."

In recent days, there has been consultations on three major climate plans that had to be coordinated: CBAM, ETS and the Social Climate Fund.

In Europe, heavy industry companies are only allowed to emit what they have CO2 certificates for . This is called the ETS ( emissions trading system see the image below ). Every year, the EU determines how many of these so-called CO2 certificates may be distributed among industry. The amount of allowances that are distributed decreases every year, so that European emissions decrease.

Companies are allowed to trade with those rights, hence the name of the emissions trading system. If a company produces economically, that company can sell the other certificates to polluting companies that need extra rights. More economical companies are therefore more advantageous and there is a financial incentive to start producing sustainably.

There was a fear that this system would cause companies to leave Europe. Because companies in Europe have to pay extra for their emissions, their products are more expensive than those of companies from outside Europe. This unfair competition would allow companies to choose to settle outside Europe. Therefore, the industry received part of its rights for free and received subsidies, partially nullifying the financial incentive to make sustainability.

The EU has come up with a solution to this: it CBAM ( see image below ). As soon as polluting companies from outside Europe want to sell their stuff in Europe, they pay at the border for their CO2 emissions.

NOS / Harm Kersten

Figures a few years ago Environment Central that the Dutch are responsible for three times as much CO2 emissions as an average world citizen.

Fossil fuel oil and natural gas are the largest CO2 emitters when burned, especially when they are burned to produce electricity.

The plans will start as it stands in 2027, the Social Climate Fund a year earlier. Citizens are expected to be small amounts. For example, a refueling, says a spokesperson, will on average not be more than 10 euro cents more expensive, it is expected. Plans have been made for the energy crisis.