GEIR Update: Tail wind for re-refining
No one can deny the current wind of change that our societies are experiencing, with more and more people concerned about climate change and the negative impact of CO2
emissions on the planet. At
society level this has translated into youth taking the streets in several European cities these past months, calling for politicians to act. This call was not left unanswered, as recent developments show.
This trend does not come as a surprise since several
initiatives at EU level had the reduction of CO2 emissions as an end goal. The most famous one being probably the EU Emissions Trading Schemes, which rules were last updated in 2018. But the EU has not stopped there. It reflected recently on a long-term decarbonisation strategy, considering becoming carbon neutral by 2050. The European Commission also expressed its willing to modify the voting rules on energy taxation. The aim is to facilitate the adoption of tax measures that would incentivise clean energy and CO2
emissions
reductions. Taxation of these emissions also became a topic during the EU elections campaign this May, triggered by the Brussels scene uproar about companies promoting climate change denial. There is clearly a momentum going on at EU level.
We, the European Waste Oils Regeneration Industry (GEIR), have been contributing for decades to decarbonisation goals, placing on the market recycled base oils with a significantly lower carbon footprint than those from conventional production. But our involvement should go beyond this sole aspect. Decision-makers should recognise our sector’s added value and enable us to play an active role in future decarbonisation/taxation schemes. The US is already moving in that direction, considering the introduction of carbon credits for the regeneration sector. With several similar initiatives already implemented in EU Member States, the next logical step would be an EU framework. We deserve it.
LINK
www.geir-rerefining.org
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