The European Economic and Social Committee (EESC) has underlined that taxes on carbon dioxide emissions will not be enough to reduce CO2 sufficient, saying that there is a need to take a symmetrical approach to taxation that encourages CO removal2 from the atmosphere.
New taxes and additional measures for CO2 Emissions will help, but not enough: global warming is likely to continue unless CO is already being emitted2 can be taken from the atmosphere. In the opinion prepared by Krister Andersson and adopted at the July plenary session, the Committee stressed the need for a new system of CO2 Not only are emissions taxed and therefore not recommended, but emissions already in the atmosphere can be removed, stored and used for other purposes.
During the plenary, Andersson said: “It is important to use taxes to meet Europe’s climate neutrality goals, but additional tools are needed. It would be efficient if CO could not just be reduced2 We could also remove CO emissions2 from the atmosphere. For this reason we call for a symmetrical tax approach based on this strategy: tax revenues from CO2 Taxes could be used to offset activities that remove CO2 from the atmosphere. “
The EESC also recommends that targeted investments be made to develop new technologies at EU and national level that enable carbon capture and storage (CCS) and carbon capture and use (CCU). These measures would be another step towards reducing the impact of CO2 Emissions, thereby meeting the United Nations Sustainable Development Goals and the Paris Agreement on Climate Change.
The Committee also highlights land management practices that should be encouraged and supported in the EU and in the Member States, such as a focus on forests. Expanding, restoring, and properly managing forests can harness the power of photosynthesis to combat CO2 and should be compensated by applying a negative tax rate. Forests remove carbon dioxide naturally, and trees are particularly good at storing carbon that is removed from the atmosphere. Whether it is new technology or other practices, actions should be implemented symmetrically, efficiently and in a way that is socially acceptable to all.
According to the EESC, global warming needs to be addressed in a comprehensive and symmetrical way around the world, taking into account current CO levels2 in the atmosphere. It would be useful to establish rules within the EU and, on this basis, start international discussions with other trading blocs. In the future, to achieve an effective, symmetrical policy framework to deal with the increasing amount of CO2New tax measures could be proposed to complement the current emissions trading system and national carbon taxes.
The European Commission’s approach to the European Green Deal with the European Emissions Trading Scheme (ETS) appears to be going in the right direction and is making good progress in introducing more effective carbon pricing across the economy. The ETS is based on the “cap and trade” principle, according to which an upper limit is set for the total amount of certain greenhouse gases that can be emitted.
The cap will decrease over time, which must decrease overall emissions. Under the cap, companies that are subject to the scheme receive or buy emission allowances that can be traded as needed. Such an instrument should be coordinated with other additional instruments, including a new tax approach in a coherent policy framework, as well as with other similar instruments being implemented in other regions of the world.
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