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S&Ds: we won the first battle on CBAM and ETS to ensure the EU meets Fit for 55 climate goals

S&D - Socialists and Democrats

Today, it’s an important day for our common effort to address the climate crisis and put us on the right path to make Europe the first carbon neutral continent by 2050 at the latest. Today, the environment committee has voted on crucial files that represent the tools that will put our 2030 climate goal into practice. Among the most important ones are: the Carbon Border Adjustment Mechanism (CBAM), and the reform of the Emissions Trading System (ETS).

New spending rules for EU budget are disappointing, say S&Ds

S&D - Socialists and Democrats

According to the S&D Group, the EU should be able to reallocate unspent money to tackle crises like pandemics, or refugee flows due to conflicts in third countries. Yet, the new spending rules in the Financial Regulation, proposed by the European Commission, do not give the much needed flexibility for EU money to be used in cases of unforeseen circumstances, say the Socialists and Democrats.

S&Ds call on Poland to end its blockage of the minimum effective corporate tax rate - Now is the time for tax justice!

S&D - Socialists and Democrats

Today, the European Parliament is set to debate and tomorrow adopt the Aurore Lalucq report calling for the establishment and rapid implementation of a minimum corporate tax rate for multinationals into European law following the 2021 OECD agreement. At their most recent meeting, EU economic and finance ministers failed to reach a common approach. Currently, Poland is the only member state holding out on the agreement.

ENVI vote threatens green steel transition and 30,000 jobs: EP plenary needs to fix it, warns EUROFER

EUROFER

Brussels, 17 May 2022 – The European steel industry calls upon the plenary of European Parliament to fix the disruptive vote on the Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) cast by its Environment Committee. Today’s outcome endangers €31 billion investments needed for deploying the 60 low carbon projects the European steel industry has in the pipeline, as well as €45 billion in exports value and 30,000 jobs.

APPLiA - EU Parliament's ENVI Committee vote on CBAM marks one more step towards carbon leakage for downstream products

Today, the European Parliament’s Environment (ENVI) Committee voted on the Carbon Border Adjustment Mechanism (CBAM). While the home appliance sector “welcomes the efforts undertaken by the Committee to tackle downstream industries”, explained Paolo Falcioni, APPLiA Director General, “the proposal, as it currently stands, lacks the necessary provisions to effectively prevent carbon leakage in downstream products and industrial delocalisation.” 

S&Ds push for lifting import duties on Ukrainian products as act of solidarity

S&D - Socialists and Democrats

Today, the European Parliament’s international trade committee is set to adopt a regulation to suspend all duties on imports from Ukraine, lift remaining tariff-rate quotas, and suspend collection of anti-dumping duties for the duration of one year after adoption. This concerns industrial goods such as steel, fruits and vegetables subject to the entry-price system, and agricultural products subject to tariff-rate quotas.

S&Ds act to bring order to the chaos in the Green Bond market

S&D - Socialists and Democrats

The European Parliament’s economic affairs committee will today adopt a compromise on the new European Green Bond rules* that would significantly improve the functioning of this rapidly growing market. The S&Ds tried hard to ensure that the new rules would bring an end to the existing chaos and guarantee truly green investments. 

Paul Tang, S&D MEP and the rapporteur on the green bonds rules, said:

Delivering REPowerEU through a strong European hydrogen industry

Hydrogen Europe

Following the Fit for 55 policies and targets proposed by the European Commission and the recently renewed ambitions of the REPowerEU communication, Hydrogen Europe has prepared a position paper titled "Delivering REPowerEU through a strong European hydrogen industry" (click here to read it).

Open statement by energy intensive industries ENVI Committee vote on Emissions Trading System and Carbon Border Adjustment Mechanism

EUROFER

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