Carbon sanctions still on the table as Australia pursues EU trade deal | CroweDM
Australia will be exposed to sanctions for missing climate change targets under a new trade deal with the European Union that holds out the promise of boosting $94 billion in two-way trade.
“It certainly was a problem because the whole announcement came out very unexpectedly, there were no prior consultations with the EU on all those decisions.” Climate targets remain a crucial factor in the trade talks after Dombrovskis declared last week that trade partners in new deals would have to honour “core provisions” of global standards including emission cuts committed to under the Paris Agreement at the United Nations.
Even so, the central EU requirement will be that it could apply trade sanctions on Australia after a dispute settlement process if it believed Australia was not honouring its climate commitments to the United Nations.The trade negotiations will also have to overcome concerns from members of the European Parliament, or MEPs, who believe trade liberalisation has failed to link climate action with the traditional approach of removing tariffs.
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