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April 8, 2021updated 18 Apr 2021 12:24pm

Poll invokes mixed response to European Union’s plan to impose bloc-wide carbon footprint taxes by Summer 2021

The European Union (EU) plans to revise their energy taxation rules by Summer 2021 to achieve net zero emissions by 2050.

By Praveen Duddu

The European Union (EU) plans to revise their energy taxation rules by Summer 2021 to achieve net zero emissions by 2050.

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In a poll Verdict has conducted to analyse people’s opinion on the EU’s plan to impose bloc-wide carbon footprint taxes by Summer 2021, 43% of the respondents supported the plan, while 40% were against it.

The remaining 17% of the respondents did not have an opinion regarding the plan.

EU to impose carbon footprint taxes

The analysis is based on 253 responses received from the readers of Offshore Technology, a Verdict network site, between 04 December 2020 and 30 March 2021.

EU’s effort to overhaul policies to combat climate change

The EU countries are undertaking various measures to fight climate change and have agreed to impose a bloc-wide tax on non-recycled plastic waste. Few countries have also introduced national environmental taxes.

The EU plans to begin imposing fees for importing goods in the core sectors, including steel, cement, and electricity industries, which could be later extended to aluminium, fertiliser and chemical industries. The levies should be overhauled to appear as climate and environmental expenses, according to the head of EU climate policy.

Brussels intends to revamp its policies, including Europe’s carbon market, carbon standards for cars, and farming subsidies to meet its net-zero emission target, while the Netherlands plans to levy CO2 taxes on industries and increase taxes on flight tickets to narrow the price gap between plane and train tickets.

However, the road to modification in the EU taxation rules will not be smooth as it requires approval from all the 27 member countries. The fuel taxation policies are expected to face the most resistance as countries and companies will likely raise concerns that the carbon-footprint taxes will increase product prices thereby impacting consumers.

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Free Report
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Carbon Capture, Utilization, and Storage set to play key role in reducing global emissions

Carbon Capture, Utilization, and Storage (CCUS) has emerged as one of the key technologies set to reduce carbon emissions, proving especially useful in projects where eliminating all process emissions is not possible  As a result, Oil & Gas companies are investing in CCUS projects as part of ongoing strategies to reduce their emission footprint and boost sustainability efforts.   Our recent report, CCUS Strategies in Oil and Gas, reveals that the energy sector accounts for approximately three-quarters of total greenhouse gas emissions and has a key role to play in reducing global warming over the coming decades.   Our report will help you:  
  • Understand CCUS and its importance in reducing global emissions 
  • Analyze CCUS plant trends 
  • Gain insight from leaders in the Oil & Gas industry on implementation of CCUS projects 
Download the report now to get ahead of this trend and make strategic investments.  
by GlobalData
Enter your details here to receive your free Report.

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