BASF on Wednesday said it welcomed the European Union’s target to reduce greenhouse gas emissions by 55% by 2030 from 1990 baselines. However, the German chemical giant warned that “excessive” levies on carbon emissions from chemical plants could jeopardise the industry’s competitiveness. While it is too early to assess the impact of the carbon levies, BASF said that chemical makers needed to maintain their competitiveness during the shift to carbon neutrality. The levies could hold back the industry from achieving the transition.
The European Automobile Manufacturers’ Association (ACEA) also echoed BASF’s concern, saying the emissions reduction target would be challenging for the automotive sector. ACEA said the transition push requires participation from the governments, including building charging and refuelling infrastructure. The trade group also said the shift needs careful management to mitigate the economic impact on jobs. The European Commission said 6 million charging points would be needed to cut CO2 emissions by 50% in 2030. However, the most recent plan only targets 3.5 million charging points over the same timeframe.
