Climate Finance: EU carbon border tax revenues proposed

In a draft report submitted to the European Parliament, Mohammed Chahim, a Dutch centre-left MEP, called for additional climate finance to go to low-income nations hit by a proposed levy on carbon-intensive goods imported to the union.

The report, due to be debated by lawmakers in early February, is a response to the European Commission’s proposal for trade partners to pay a carbon price equivalent to that paid by EU business.

Chahim’s proposed amendments would broaden the scope of the tax and roll it out faster, with some support to soften the blow for the least developed countries (LDCs).

Read more at Climate Home News.