The carbon footprint to understand the amount of greenhouse gases in terms of carbon dioxide (CO2), which is released when the whole process of production and operation of the product. Takes into account not only the direct harm, for example, in the manufacture of plastic but even at the expense of the resource generated electricity in a country where it is produced.
Russia believes a carbon fee contrary to the norms of the world trade organization. This declared the Minister of economic development Maxim Reshetnikov at a briefing following the meeting with the Ministers of BRICS. Earlier, the Russian energy Ministry also stressed that in the calculation of the carbon collection, the EU does not take into account the area of forests in Russia and their contribution to the absorption of carbon dioxide.
a Negative attitude to the new EU tax in the United States. The similarity of positions is not surprising, the main sources of emissions of CO2, if we use the methodology of calculation adopted by the EU are Russia, USA and China. But Beijing, as the largest exporter of goods to Europe, since 2013, actively cooperated with the EU on this issue, and have time to prepare for the negative impact of a carbon fee on their exports. In 2020, the country plans the launch of the China ETS (scheme domestic trade in emission quotas in Europe), which was conducted in 2014 with the expert support of the EU.
the Mechanism of the new collection is still under discussion. At BCG believe that with high probability they will be subject to only the emission of CO2 (carbon dioxide) in excess of certain thresholds, but tax will be introduced in 2021. At KPMG in the baseline scenario of the forecast assumes that the collection will be introduced in 2025, but will take into account all direct emissions, and the unit price of CO2 will increase, and the share of taxable exports.
Innovation will dramatically reduce the profit from exports to Europe flat rolled metal products used in the manufacture of vehicles, machines, and construction – an average of more than 40%. Directly affected by the tax will be chemical and paper products, as well as the production of nitrogen fertilizers (here the profit will be reduced by 40-65%). But the greatest amount of payments under the tax will have on natural gas, crude oil and metals – primarily because of the large volumes of exports of these goods.
In the baseline forecast KPMG additional average yearly burden on the supply of natural gas to Europe (based on exports in 2019) will be between 1.4 to 2.3 billion euros. If the Assembly will take into account direct and indirect emissions of CO2, it will reduce the profitability of crude oil supplies from Russia to the EU average by 10-20%, which will open European market to competitors from the Persian Gulf, primarily Saudi Arabia. Also at risk is ekthe activities of Nickel, copper and articles thereof.
the Probability of introduction of the carbon fee is assessed as very high. Especially given the size of the economy, which the EU proposes to support fight the consequences of the COVID-19 (750 billion euros). The only question is the terms and conditions. “From the introduction of the carbon collection Russian exports will suffer to a much greater extent than the other”, – says the head of group operational risk and sustainable development, KPMG in Russia and the CIS Igor Korotetskiy. From his point of view, this is due to the predominance of carbon-intensive exports, structural features of the Russian power system, but also a great potential for increasing its energy efficiency, which remains unrealized.
“Russia needs to develop its own accounting system of emissions of CO2“, – considers the head of group risk assessment for sustainable development of ACRE Maxim Hudalov. In his opinion,
custom carbon regulation is not directed against Russia, but against such industrial giants as China and India. But Russian exporters need to understand that ecology is a new severance tax and, therefore, the importance of environmentally friendly business practices and the quality of the relationship to non-financial reporting will only increase, said hudlow.
