Latest news with #CarbonBorderAdjustmentMechanism
Euronews
17 hours ago
- Politics
- Euronews
No, the EU is not banning CO2 in drinks
An alleged screenshot from the European Commission website circulating online says that the EU will ban carbon dioxide in soft drinks, beer and mineral water from 2027. It says that the Commission is doing away with CO2 in drinks to reduce around 400 million tonnes of annual emissions, as part of its "Fit for 55" programme. Anyone flouting the new rule would be subject to fines of up to €50,000 per litre, according to the supposed webpage. However, a search of the European Commission's website shows that no such statement exists, and the EU's "Fit for 55" package doesn't include any proposal to ban CO2 in drinks. "Fit for 55" is a climate and energy initiative designed to reduce greenhouse gas emissions by at least 55% by 2030, compared to levels in 1990. It "ensures a just and socially fair transition, maintains and strengthens innovation and competitiveness of EU industry while ensuring a level playing field vis-à-vis third country economic operators, and underpins the EU's position as leading the way in the global fight against climate change," according to the European Commission. Some of its measures include CO2 emissions standards for vehicles, moving towards zero emissions from new cars and vans by 2035, as well as reforming the EU Emissions Trading System and bringing in a Carbon Border Adjustment Mechanism to place a carbon price on imports of certain goods to prevent carbon leakage and ensure fair competition. However, there's nothing about banning carbonation in drinks and there's no credible source anywhere else that corroborates the claim. The screenshot of the alleged commission press release also doesn't fully look the part, showing that it's not real. In general, it doesn't look like any recent press releases and uses a photo of European Commission President Ursula von der Leyen from 2019, rather than a current one. The photo was taken on 11 December 2019, according to AP, while von der Leyen was giving a statement in relation to the European Green Deal. Additionally, in the alleged screenshot, the Commission's logo is blurred and low-resolution, and certain elements seen in real press releases are missing, such as the language selection box and a publication date. There's also a typo in the headline: "Kommission" is supposed to be spelt with two Ss, and its official name in German is the Europäische Kommission, not the Europa Kommission. EU initiatives are often the target of misinformation campaigns, as the measures contained within are either misinterpreted or deliberately exaggerated to whip up hysteria. EuroVerify previously debunked a similar false claim that the EU is on its way to banning coffee after labelling caffeine as dangerous for human consumption. A Russian missile strike on an apartment building in the Ukrainian capital Kyiv was a sign that more pressure must be put on Moscow to agree to a ceasefire, Ukrainian President Volodymyr Zelenskyy said on Thursday, as Moscow intensifies attacks in the war. The drone and missile attack on Kyiv early Tuesday, the deadliest assault on the capital this year, killed 28 people across the city and wounded 142 others, Kyiv Military Administration head Tymur Tkachenko said. Zelenskyy, along with the head of the presidential office, Andrii Yermak, and Interior Minister Ihor Klymenko, visited the site of the apartment building in Kyiv's Solomianskyi district on Thursday morning, laying flowers and paying tribute to the 23 people who died there after a direct hit by a missile brought down the structure. "This attack is a reminder to the world that Russia rejects a ceasefire and chooses killing," Zelenskyy wrote on Telegram, and thanked Ukraine's partners who he said are ready to pressure Russia to "feel the real cost of the war." Tuesday's attack on Kyiv was part of a sweeping barrage as Russia once again sought to overwhelm Ukrainian air defences. Russia fired more than 440 drones and 32 missiles in what Zelenskyy called one of the biggest bombardments of the war. As Russia proceeds with a summer offensive on parts of the roughly 1,000-kilometre front line, US-led peace efforts have failed to gain traction. Russian President Vladimir Putin has effectively rejected an offer from US President Donald Trump for an immediate 30-day ceasefire, making it conditional on a halt on Ukraine's mobilisation effort and a freeze on Western arms supplies. Meanwhile, Middle East tensions and US trade tariffs have drawn away world attention from Ukraine's pleas for more diplomatic and economic pressure to be placed on Moscow. In recent weeks, Russia has intensified long-range attacks that have struck urban residential areas. Yet on Wednesday, Putin denied that his military had struck such targets, saying that attacks were "against military industries, not residential quarters." Putin told senior news leaders of international news agencies in St. Petersburg that he was open to talks with Zelenskyy, but repeated his accusation that the Ukrainian leader had lost his legitimacy after his term expired last year. "We are ready for substantive talks on the principles of a settlement," Putin said, noting that a previous round of talks in Istanbul had led to an exchange of prisoners and the bodies of fallen soldiers. A new round of such exchanges took place in Ukraine's Chernihiv region on Thursday, involving the repatriation of Ukrainian prisoners of war who, according to Ukraine's Coordination Headquarters for the Treatment of Prisoners of War (KSHPPV), were suffering from severe health issues caused by injuries and prolonged detention. The exchange was confirmed by Russia's Defence Ministry, which released a video of Russian servicemen at an exchange area in Belarus after being released in the prisoner swap. Commenting on the exchange, Zelenskyy wrote on Telegram: "We are working to get our people back. Thank you to everyone who helps make these exchanges possible. Our goal is to free each and every one." Many of the exchanged Ukrainian POWs had spent over three years in captivity, with a large number captured during the defines of the now Russian-occupied city of Mariupol in 2022, according to the KSHPPV, which added that preparations for another prisoner exchange are ongoing.
The Sun
a day ago
- Business
- The Sun
Carbon tax approach to achieving green future
PETALING JAYA: A carbon tax does not have to hurt the average Malaysian, but it could force polluters to clean up their act. That is the message from experts as the country prepares to roll out the levy by 2026. Taylor's University research cluster lead for innovative management practices Prof Dr Poon Wai Ching said the carbon tax should not be viewed simply as a revenue-raising measure but also as a vital tool in steering Malaysia toward a more sustainable, low-carbon future. 'It reduces greenhouse gas emissions by assigning a monetary cost to emitting carbon dioxide,' she said. 'For instance, if a company emits 10,000 tonnes of CO₂ and the tax is RM10 per tonne, it would owe RM100,000, putting real financial pressure on businesses to invest in cleaner technologies and energy efficiency.' The policy is expected to initially target high-emission sectors such as iron, steel and energy. Revenue generated could be channelled into green research, innovation and sustainable infrastructure, including climate adaptation projects and circular economy initiatives. Poon added that although Malaysia has long been aligned with global climate frameworks like the Kyoto Protocol and Paris Agreement, recent shifts in international trade dynamics have intensified the need for action. 'One key factor is the EU's Carbon Border Adjustment Mechanism, which will tax imports based on their carbon content,' she said. 'If Malaysia doesn't act, we risk losing competitiveness in global trade.' She also stressed the importance of revenue recycling – using income from the carbon tax to benefit the wider public, such as by supporting low-income communities, subsidising green technologies and strengthening national sustainable development goals. While the carbon tax underscores Malaysia's commitment to achieving net-zero emissions, Poon said the recent rationalisation of RON95 fuel subsidies helps ease the public into the idea of paying closer to the true environmental cost of energy. 'It makes the shift to carbon pricing smoother over time,' she added. Poon also pointed out that 37 countries have introduced carbon tax frameworks, including Singapore and European nations such as Finland, Sweden, Norway and Denmark. She said Malaysia could draw valuable lessons from these international models by adopting a phased approach, ensuring transparent pricing and protecting vulnerable communities. 'If businesses adopt sustainable and circular economy strategies now, they can boost their ESG (environmental, social and governance) performance and tap into regional growth opportunities,' she said. Universiti Teknologi Mara Malaysian Institute of Transport head of legal and quality Dr Siti Ayu Jalil said the transport and logistics sector, which contributed 5% to Malaysia's GDP in 2024, will face both short-term and long-term challenges under the new policy. 'In the short term, the carbon tax and fuel subsidy cuts will raise operational costs in freight, haulage and ride-hailing services. This may lead to higher prices for essential goods, especially in Sabah and Sarawak, where transport distances are greater,' she said. Over time, the carbon tax will become a fixed cost for businesses, incentivising them to adopt low-emission fleets such as electric and hybrid trucks and to shift towards rail and maritime transport, she added. Green certifications may also become essential to stay competitive, she said. To support the transition, Siti Ayu called for targeted government incentives, including grants and tax breaks for low-emission vehicles, as well as expanded EV charging infrastructure. She also recommended increased investment in freight rail and urban logistics hubs to reduce urban congestion and emissions. 'Part of the carbon tax revenue should be used to fund research and innovation in sustainable transport technology,' she added. 'This includes adopting digital solutions like GPS-based tracking and AI-driven route optimisation to reduce fuel consumption.' Siti Ayu also underscored the importance of protecting low-income groups and rural populations from the knock-on effects of rising transport costs. She proposed targeted cash transfers and rebates for B40 and M40 households, continued support for public transport passes such as My50 and My100 and the reintroduction of My30 to ensure affordable unlimited travel. In rural areas, she suggested logistics subsidies for essential goods such as food and medicine to prevent price surges. 'Reform is unavoidable. Malaysia must do its part in combatting climate change and aligning with the UN Sustainable Development Goals. This is not just a tax. It's a path to a climate-resilient, productive and fair future,' said Siti Ayu.
Time of India
a day ago
- Business
- Time of India
Blending green hydrogen in refining, fertilisers can unlock 3 MMT demand by 2030: Report
New Delhi: Blending green hydrogen into existing hydrogen consumption in sectors like oil refining and fertiliser production can generate up to 3 million metric tonnes (MMT) of demand by 2030, a new report released by the Confederation of Indian Industry (CII), Bain & Company, and Rocky Mountain Institute (RMI) said on Thursday. The report, From Promise to Purchase: Unlocking India's Green Hydrogen Demand, was launched at the CII International Business Conclave on Green Hydrogen in New Delhi. It outlines strategies to scale demand-side uptake of green hydrogen and meet India's national target of producing 5 MMT annually by the end of the decade. Blending 40 per cent green hydrogen in refining operations could alone unlock up to 2 MMT of demand by 2030, while a 20 per cent blend in the fertiliser sector could add another 0.9 MMT. In piped natural gas (PNG), blending 10 per cent green hydrogen could support 0.1 MMT of demand. 'India's green hydrogen journey is a strategic shift toward energy independence and global competitiveness. The report highlights strategies to transition to green hydrogen which could create a demand of 5 MMT by 2030,' said Sumant Sinha, Chairman, CII Energy Transition and Hydrogen Council, and Chairman and CEO, ReNew. The report also identifies public procurement and export-oriented growth as key additional levers. Mandating 10–15 per cent green steel in public infrastructure could unlock 0.4–0.6 MMT, while exports of green hydrogen and green steel may add 0.8–1.3 MMT to demand. According to Bain & Company's Oil and Gas practice leader Sachin Kotak, while supply momentum is strong, 'demand-side interventions will be essential to translating this ambition into reality.' In niche sectors like chemicals, glass, and ceramics, green hydrogen substitution could reach 0.07 MMT by 2030 with a 20 per cent shift from grey hydrogen. Smaller companies in these sectors already face high procurement costs for grey hydrogen, making green hydrogen a cost-neutral option. Vineet Mittal, Co-chairman of the CII Energy Transition and Hydrogen Council and CMD, Avaada, said the report 'highlights sector-specific and demand-side opportunities' and points to critical catalysts such as low-cost financing and offtake security. The report notes that India could generate export demand of 0.8–1.1 MMT of green hydrogen by capturing 5–7.5 per cent of global import demand. Green steel exports to the EU, driven by the Carbon Border Adjustment Mechanism, could add another 0.13–0.18 MMT. 'Purchase obligations for fertiliser and refining, calibrated to rise with falling costs, can anchor additional volumes,' said Jagabanta Ningthoujam, Principal, RMI. India currently exports 3.3 MT of steel to the EU, which is expected to rise to 4.5 MT by 2030. If 50–70 per cent of this transitions to green steel, it could significantly contribute to the green hydrogen uptake, the report said. The report calls for long-term offtake agreements, blended finance, carbon pricing frameworks, hydrogen hubs, and international certification to enable full-scale adoption and project viability.
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First Post
12-06-2025
- Business
- First Post
Does India trust Trump? It's not about personality X or president Y, says Jaishankar
External Affairs Minister Dr S. Jaishankar said India's relationship with the United States is extremely important, and it is not just about 'President X' when asked if New Delhi trusts Donald Trump read more External Affairs Minister Dr S. Jaishankar said the relationship with the United States is extremely important to India, regardless of who is the president of the country. The remarks from the Indian diplomat came in an interview with European news outlet Euractiv when he was asked about whether 'India trusts US President Donald Trump'. 'I take the world as I find it. Our aim is to advance every relationship that serves our interests, and the US relationship is of immense importance to us. It's not about personality X or president Y,' Jaishankar told the European news outlet. STORY CONTINUES BELOW THIS AD The conversation took place during Jaishankar's visit to Belgium's capital, Brussels, where he held talks with the leaders of the European Union. On Tuesday, he met EU Chief Ursula von der Leyen and EU Foreign Policy Minister Kaja Kallas as India and the EU negotiated the highly anticipated Free Trade Agreement. Where India stands in the geopolitical order When asked where India sees itself in the geopolitical order, Jaishankar emphasised how the world is becoming more multipolar. 'Multipolarity is already here. Europe now faces the need to make more decisions in its own interest – using its own capabilities, and based on the relationships it fosters globally,' the Indian external affairs minister told Euractiv. 'I hear terms like 'strategic autonomy' being used in Europe – these were once part of our vocabulary. The EU plays a major role in the global order and is increasingly an autonomous one. That is precisely why I'm here: to deepen our relationship in this multipolar world," he added. During the interview, Jaishankar admitted that Europe is becoming far more realistic lately. However, he maintained that India continues to have 'deep reservations' about the EU's Carbon Border Adjustment Mechanism (CBAM), which is the tax that the EU imposes on products from jurisdictions where climate policies are not robust. 'The idea that one part of the world will set standards for everybody else is something which we are against. We have very deep reservations about CBAM, and we've been quite open about it," the EAM explained. Jaishankar went on to reiterate Prime Minister Narendra Modi's promise of signing an India-EU FTA by the end of the year.
The Hindu
12-06-2025
- Business
- The Hindu
Addressing non-tariff barriers key for India, EU trade pact, says Piyush Goyal
Finding solutions to address non-tariff barriers would be important for the proposed free trade agreement (FTA) between India and the European Union (EU) and both sides are actively working on resolving these issues, Commerce and Industry Minister Piyush Goyal said on Thursday (June 12, 2025). He said the two sides are "pretty" close to finalising the talks for the proposed free trade pact. "Significant progress has been made. More than half the chapters are ready. In terms of content, I would say we are almost 90 per cent ready for market access. The important issues to be addressed are non-tariff barriers and how we will make it smoother, easier, and better to do business between the EU and India," Mr. Goyal told reporters in Stockholm. He added that both India and the EU are in active discussions to find solutions to make business smooth for companies of both sides. "Unless countries recognise that over regulation and barriers to trade will be met with reciprocal action, everybody suffers. We are committed to deregulation, to finding solutions to the high cost of regulation, the non-tariff barriers that these regulations cause and the impediments to free trade. I am quite hopeful that we will find very robust solutions to this problem," the Minister said. He is here on an official visit to meet his Swedish counterpart and companies for promoting trade and investments between the two countries. Sweden is a member of the 27-nation EU bloc. Key Indian exports that routinely face high barriers in the EU include — chillies, tea, Basmati rice, milk, poultry, bovine meat, fish, chemicals products. Most non-tariff measures (NTMs) are domestic rules created by countries with an aim to protect human, animal or plant health and environment. NTM may be technical measures such as regulations, standards, testing, certification, pre-shipment inspection or non-technical measures like quotas, import licensing, subsidies, government procurement restrictions. When NTMs become arbitrary, beyond scientific justification, they create hurdles for trade and are called NTBs (non-tariff barriers). India's exports are far below potential as they face NTBs in regions, including the EU, the US, China, Japan, and Korea. According to think tank GTRI, the EU has set MRL (minimum residual limit) for tricyclazole, a fungicide in rice, to 0.01 mg per kg as against the ten times higher limit earlier. Similarly, the EU has set MRL for aflatoxins B1 level in chilies and other spices at 5 to 10 ppb (parts per billion). The minister said negotiations on services and rules or origin have started. To give an impetus to the ongoing talks for the FTA, EU Commissioner for Trade and Economic Security Maros Sefcovic is expected to visit New Delhi on June 28-29. On the Carbon Border Adjustment Mechanism (CBAM), Goyal said this measure is "not good" as it is also a kind of a non-tariff barrier. This carbon tax, if imposed, will do injustice to Indian industry, he said, adding that if the EU will take any such step, India will have to respond to that. FTA talks are happening in a good environment and it will not be good to impose carbon tax on Indian goods, he added. "Our talks are going on the issue to find ways to deal with this," the minister said, adding that some good solutions will come out on this. On February 28, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen agreed to seal a much-awaited free trade deal by this year amid rising concerns over US President Donald Trump's policy on tariffs. In June 2022, India and the 27-nation EU bloc resumed the negotiations after a gap of over eight years. It stalled in 2013 due to differences over the level of opening up of the markets. India's bilateral trade in goods with the EU was $136.4 billion in 2024-25 (exports $75.75 billion, imports $60.65 billion), making it the largest trading partner of India for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9% of its total exports. EU's investments in India are valued at over $117 billion with around 6,000 European companies present in India. India's investments in the EU are valued at around $40 billion.
