Carbon offsets, trading can overcome the looming green-tax challenge

November 10, 2021 / www.metalbulletin.com / Article Link

Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said

"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told Fastmarkets.This is likely to play a central role in companies' overall business models regardless of the industries in which they operate but it is even more relevant for the metals and mining industry given that steelmakers and smelters emit pollution in their production processes."There is an increasing pressure to deliver low-carbon products and meet carbon neutral targets. Steel mills cannot reduce all their emissions from steel production with the existing technology because it is either not yet available or is not financially viable," L??pez said.For example, a steel mill could choose to use technologies such as green hydrogen for steel production, but the current cost does not make it economically viable. The few projects...

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