2023-09-29 19:19:05
The steel industry is one of the first sectors affected by the new “carbon border tax”. European manufacturers were waiting for such a measure to fight against extra-European imports. INA FASSBENDER/AFP
ANALYSIS – The mechanism comes into force on October 1 but will only protect European manufacturers from 2026. On paper, it is a virtuous mechanism. What is it really?
This is the big day. Or almost. On October 1st, the MACF will begin its life in Europe. MACF? The acronym stands for “carbon border adjustment mechanism”. Its objective is to reconcile reduction of CO2 emissions in industry, competitiveness and sovereignty. “It’s a French idea, supported by all the presidents of the Republic since Jacques Chiracwhich will begin to apply”, we explain to the government. Previously, we spoke more of a “carbon tax at the borders of Europe”. But the term tax is not in vogue in Brussels. The name change helped to iron out certain problems. Exit the tax. Welcome to the “adjustment mechanism.” The philosophy is the same.
The origin of the system can be found in 2005, when the European Union implemented a carbon tax, or more precisely a mechanism of carbon quotas allocated to the most polluting industries. When manufacturers have used all their quotas, they must buy the balance…
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