The Hungarian government recently enacted Emergency Decree 320/2023, taxing all CO2 emissions from the country’s 40 or so largest industrial enterprises. The government used emergency powers to set up a new taxation scheme, which undercuts existing free allowances under the EU emissions trading scheme (ETS). The scheme additionally penalises the trade in ETS credits. Cement producers announced that
The EU has enacted the implementing regulation for the carbon border adjustment mechanism (CBAM) under its emissions trading scheme (ETS). Under the CBAM, importers of cement to the EU will eventually pay taxes for its embedded CO2 emissions, equivalent to those levied against EU-based producers. Importers must begin to collect emissions data from 1 October 2023,
The Ministry of Climate Change, Energy, the Environment and Water is holding a consultation over the possible implementation of a Cross-Border Adjustment Mechanism to penalise imported cement for its CO2 emissions in line with the Australian cement industry’s emissions reduction goals. The Guardian Australia newspaper has reported that the government expects to publish its report on
UK-based Breedon Group says that it is seeking a ‘beachhead’ acquisition from which to build its own building materials business in the Eastern US. CEO Rob Wood said that the top 10 US building materials companies control 40% of the market there, compared to 75% of the UK market being controlled by five leading companies.
Mineral Products Association Lime (MPA Lime), the body representing the UK lime sector, has launched the Net Negative 2040 Road map. The association said that the road map sets out the strategy for its to ‘go beyond net zero’ by 2040. The industry will rely on the deployment of fuel switching, carbon capture, renewable energy
Taiwan Cement said this week that it is aiming for cement to account for less than half of its sales by 2025. At the annual shareholders’ meeting chair Nelson Chang defended the cement sector as a core business but said that the company was expanding more into the green energy sector through its energy storage