Climate Funders of yore, Carbon Border Tax Collectors now

“Let him who would move the world first move himself.”― Socrates. Not quite on this line, the European Commission (EC) and the United States have taken their moves on climate issues. The EC on Wednesday put forward plans for the world’s first carbon border tax, on imports of carbon-intensive steel, aluminium, cement, fertilisers and electricity, as part of a programme to meet its new climate target. Under the proposals, tighter emission limits will also make it impossible to sell petrol and diesel car sales in the EU by 2035. The border levy to be phased in from 2026. It is said to be designed to protect European industries from competitors abroad whose manufacturers can produce at lower cost because they are not charged for their carbon output. Under the proposal, a transitional phase from 2023–25. Read more