Carbon tax loophole could flood Europe with emissions heavy metal

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Aluminium production accounts for around 3 per cent of the world’s industrial emissions, according to the International Energy Agency. The adjustment mechanism will initially be introduced without charges during a trial phase that starts in October this year; producers will have to pay the levy from 2026. In the initial phase, it will cover seven different sectors including aluminium, iron, steel, fertiliser and hydrogen. The aim is to prevent products made with lower cost but dirtier production processes from undercutting companies within the EU that have to comply with the bloc’s stricter climate laws and pay for pollution under the...