The Economic Times website, citing the research group Global Trade Research Initiative, revealed that the European Union's decision to impose a carbon tax on certain sectors, such as the metals sector, starting in 2026, will only harm global trade and will not help reduce carbon emissions.
According to the research group, the only goal of what is known as the “carbon border adjustment mechanism” entails major shortcomings, as fossil fuels constitute up to 90 percent of greenhouse gases and 75 percent of carbon emissions.
The agency indicated that if the European Union truly aims to eliminate carbon emissions, it must impose high taxes on its imports of fossil fuels.
Source (Al-Rai Kuwaiti newspaper, adapted)
