A top-level advisory group to the European Union has recommended that the incoming government ought to push for a global carbon pricing program to speed up advancement towards net-zero carbon emissions by 2050.
The EU’s new executive, which is due to assume office on December 1, has stated that the central board of its push to achieve climate neutrality by 2050 will be to tax polluting sectors both inside and outside the 28-country bloc.
The report by industrial and civil society organizations read it was “clear that incremental change isn’t ample, and there may be the need to speed up the uptake of disruptive solutions.”
The “Masterplan for a competitive conversion of EU Energy Intensive Industries” explores several types of carbon pricing, along with the EU’s emissions trading system under which heavy polluters should buy and sell permits to emit carbon dioxide.
While it’s not clear which proposals shall be taken up by the new Commission, the group suggests that it promote a world carbon pricing mechanism and facilitate an EU-wide debate on how carbon pricing schemes will be implemented.
The 68-page report, due to be revealed on Thursday, goes into detail on how energy-intensive sectors, including metalworking, cement, and glassmaking sectors, in particular, can reach net-zero emissions by 2050, a target proposed by the European Commission.
Battling climate change is one of the new Commission President Ursula von der Leyen’s main policy objectives, and she is expected to put forth an ambitious climate policy program called the “European Green Agreement.”