European cement and carbon pricing regulatory risk

European cement and carbon pricing regulatory risk

New research by InfluenceMap finds that the European cement industry is not disclosing the financial risks it would face in response to a meaningful price on carbon, while continuing to undermine regulations that would enable such a price.These findings will be debated by InfluenceMap and CEMBUREAU on 30 November in Brussels. Evidence suggests that even with a low price on carbon effectively implemented the profits of the sector would collapse. The sector appears to have responded to this threat by shaping the EU ETS to suit its existing GHG intensive industrial practices through intense policy engagement in Brussels. Out of 15 industrial sectors, cement is the most negatively engaged apart from oil and gas. Policy Officer, Carbon Market Watch commented,Cement sector has made 5 billion euros in windfall profits from the EU ETS. So it´s no wonder that they are lobbying hard to block any meaningful reform.
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