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EUROPEAN PARLIAMENT BACKS BROADER CARBON BORDER TAX


NEW PLAN GOES BEYOND EUROPEAN COMMISSION PROPOSAL BY INCLUDING SOME CHEMICAL
MAKERS, SETTING A FASTER TIMELINE FOR CARBON TARIFFS

How Much Would It Cost to Reduce Global Warming? $131 Trillion Is One Answer
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How Much Would It Cost to Reduce Global Warming? $131 Trillion Is One AnswerPlay
video: How Much Would It Cost to Reduce Global Warming? $131 Trillion Is One
Answer

Money is a sticking point in climate-change negotiations around the world. As
economists warn that limiting global warming to 1.5 degrees Celsius will cost
many more trillions than anticipated, WSJ looks at how the funds could be spent,
and who would pay. Illustration: Preston Jessee/WSJ
By Matthew Dalton

and Kim Mackrael

June 22, 2022 12:00 pm ET

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The European Parliament approved legislation to tax imports based on the
greenhouse gases emitted to make them, a plan that is sending shudders through
the global trading system.

The legislation backed by the parliament on Wednesday broadens a previous
proposal for the tariff to include some chemical makers. It also sets a faster
timeline for implementation than the earlier proposal, which was drafted by the
European Commission, the European Union’s executive arm.

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