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China deals with EU“Carbon Tariff” data deal in Tianjin

2024-01-09

Chinanews.com (Chinanews.com) Chinanews.com, Tianjin, January 9(Zhou Yaqiang, Wang Shunqi) reporters learned from their Sino-Singapore Tianjin Eco-city on the 9th that they had recently been approved for registration by the northern big data trading center, the country's first data product to face EU “Carbon tariffs” has been Tianjin Climate Exchange offline. The world's first “Carbon Tariff”, the EU's carbon border adjustment mechanism (CBAM) , was launched on October 1, the 2023 said. Under the CBAM rules, the EU imposes an additional carbon border adjustment fee on certain products imported from abroad, including power, steel, aluminium, cement, chemicals and hydrogen. That is, when such industry-related products are exported to EU countries, they need to provide carbon emissions data and pay taxes on the amount of greenhouse gases emitted when goods are manufactured. In this transaction, Tianjin Jimao Nail Co. , Ltd. should provide a complete carbon emission report when exporting screws, bolts and other products to the EU, therefore, it is necessary to obtain the emission data of the upstream iron and steel enterprise-tianjin Huayuan Wire Products Co. , Ltd. in the production of raw materials. Both sides take the carbon emission data of steel wire rod products as the subject matter of the trade. Tianjin Climate Exchange reports to ensure the validity of transaction data. The registration and transaction process of data products are regulated and documented by Northern Big Data Exchange, which effectively helps downstream enterprises to carry out EU export business. The successful transaction of data products has opened up a new model of“Industry chain linkage” and“Carbon factor integration and innovation” to deal with the EU's“Carbon Tariff”, said the official in charge, it is beneficial to strengthen the cooperation between the upstream and downstream enterprises of the industrial chain, fully excavate the data value, promote the efficient circulation of data, and reduce the circulation cost of carbon emission data elements, ease the downstream enterprises“Data access difficult” problem, to help export business. Editor: Liu Yanghe

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