China opposes EU carbon tax

China opposes the European Union’s (EU) carbon border tax, citing its unilateral imposition of additional costs on poorer nations, as stated by the country’s vice minister for the environment, Zhao Yingmin, Bloomberg reported on Monday.

The country is considering expanding its domestic carbon trading system and believes that collaborating on a global carbon market would be a better option than the EU tax.

China is currently at risk of missing its 2025 climate targets due to increased coal usage to support heavy industries in 2023, according to an analysis by the Centre for Research on Energy and Clean Air (CREA).

Zhao emphasizes China’s intention to expand its national carbon market as soon as possible, focusing on industries grappling with overcapacity issues and possessing significant mitigation potential, along with robust data registries.