When the European Commission formally launched a set of measures to reduce carbon emissions in the bloc last July, Brazilian industry immediately declared the move extremely worrying for the country. Indeed, the measures include the creation of a carbon tax on some imported products, which would impact Brazilian steel exports. However, one upshot may be that the move bolsters Brazil’s position on the global carbon market.
The main goal of the EU Green Deal, so-named by the commission’s president, Ursula von der Leyen, is to reduce the bloc’s greenhouse gases by 55 percent by 2030. For that, 13 bills...
