High time for CO2 tax

11 May 2021

High time for a CO2 tax on dirty imports, even if we have to adjust trade rules for that, says Mathijs Bouwman of the Financieel Dagblad.

A substantial article in the Financieel Dagblad that does not lie. Greenhouse gas emissions are getting more and more expensive. In recent weeks, the price of a tonne of CO2 emissions even touched 44 euros. But what does this actually mean and how does this affect your company? We also wondered this. If you read the article carefully, it appears that CO2 emissions will only increase and that this upward trend will not stop for the time being.

The intention of this is, of course, that the polluting companies reduce their emissions and that investments in cleaner technology become profitable. For a long time, the ETS price was actually too low for that, but with a price above 40 euros, the costs are really starting to bite.

The relatively high price now only hurts large organizations that have to buy the rights to be allowed to produce. You can think of organizations such as Shell, TATA Steel, RWE, Vattenfall and Chemelot. That is exactly the intention, of course. But it may also put European industry at a disadvantage compared to competitors elsewhere in the world. Because most countries outside Europe do not have a system for pricing CO2 emissions. Non-EU countries such as Norway, Switzerland and Iceland do participate in the EU ETS. The United Kingdom left with Brexit, but is in the process of setting up its own trading system.

At the moment, only the big polluters pay. But when you look at this realistically, we expect the trend to continue to all companies, large or small. If you as a company ensure emissions, whether it is commercially driving a car on fossil fuel or an excavator on the construction site, CO2 surcharges will eventually be added. Regulations will become increasingly strict on this until the

companies can no longer do otherwise to switch to an emission-free vehicle or building. It must be profitable for your company to take this step and that is why we are working hard on the further development of our electric excavators. So to make it affordable for everyone.

Are you curious about the entire article from the financial newspaper? Then click here.

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