Tax Agreement Carbon

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The agreement sets a clear target for reducing carbon dioxide (CO2) emissions and a new mechanism for international cooperation on climate policy. The aim is to keep the global temperature increase below 2°C and to make efforts to limit the increase to 1.5°C. To achieve this goal, decarbonization of the global economy is needed by the second half of the twenty-first century. David Powels of the National Association of Automobile Manufacturers of South Africa (NAAMSA) opposes the tax on light commercial vehicles. [65] The tax could increase the cost of new vehicles by 2.5% and lead to a decrease in total car sales: in addition, Powels questions the ability to accurately predict CO2 emissions based on displacement. [71] In 2017, at a press conference organized in Beijing by the National Development and Reform Commission, China announced an emissions trading scheme [72]. For companies exporting to the EU and active in carbon-intensive industries, the direct effects of the carbon limit tax would change the competitive landscape. . . .