On August 20, CCPIT’s ” EU Climate Change Related Laws and Regulations and Enterprise Opportunities and Risks ” analysis (EU IV) was successfully held online, attracting about 50,000 viewers. This conference is hosted by the Legal Affairs Department of CCPIT, and organized by Yingke Law Firm as the overseas legal adviser of CCPIT (EU region). Zheng Wei, Vice Minister of legal Department of CCPIT, delivered a speech. The theme of this conference is “EU Climate Change Related Laws and Regulations and Enterprise Opportunities and Risks”. Ms. Linda Yang from Yingke Law Firm, lawyer Sara Marchetta from Camindi Law Firm, Ms. Tao Wei, General Manager of German Hanteng Consulting Co., LTD., and Ms. Shi Chen, founder and General Manager of French branch of German Hanteng Consulting Co., LTD., were invited to deliver keynote speeches.
Zheng Wei, Vice Minister of the Legal Department of CCPIT, said in his speech that in February this year, the European Commission put forward the European Green Trade Work plan, and in March this year, the European Parliament passed a resolution requiring the Commission to implement border carbon adjustment by 2023 as planned. On 14 July this year, the Commission adopted a package of legislative proposals known as Fit for 55, making its European Green Trade scheme a reality. The EU aims to achieve a 55% reduction in carbon emissions by 2030 and become the first to achieve carbon neutrality by 2050 through legislation that adjusts its laws, regulations and policies on climate, energy, transport and taxation. The EU’s climate targets and related systems have brought risks and opportunities to Chinese enterprises. On the one hand, China has become the EU’s largest trading partner in 2020, and if the EU’s carbon tariffs are implemented, Chinese enterprises will be greatly affected. To a certain extent, China’s export costs will increase and trade competitiveness will decline. Chinese enterprises should fully understand the problems brought by carbon tariffs and do a good job of risk prevention. On the other hand, the EU’s analysis on climate change has brought new topics to Chinese enterprises, especially those in the field of new energy.
Ms. Tao Wei, General Manager of Germany Hanteng Consulting Co., LTD., and Ms. Shi Chen, General Manager of Hanteng France shared the photovoltaic industry as an example. From carbon tendency to carbon footprint, she interpreted the carbon footprint of France policy changes of the market, the determination of reasonable target, as well as the evaluation criteria and calculation method of France, and she also shared how to optimize the carbon footprint, showed the experience, opportunities and challenges to reduce carbon footprint of Chinese components manufacturers through the classic cases, and gave pertinent Suggestions.
Sara Marchetta, a lawyer at Camindi Law Firm in Italy, explained investors’ concerns about ESG by analyzing climate change and climate risk from a lawyer’s perspective and gave some suggestions on how to reduce the carbon footprint to get investors’ attention. She also analyzed the risks faced by enterprises in the field of climate change, such as climate accountability, transparency and information exchange, and introduced the EU’s current laws, regulations and policies in the field of climate change, the objectives of member states, the EU’s green trade and various regulations on enterprise regulation.
Ms. Linda Yang, Founding Partner of Yingke International, delivered a keynote speech titled “The Impact of EU Carbon Tariff Policy on the Development Trend of China-EU Trade”. She introduced the background and content of the EU carbon tariff Law, namely “The Regulation on the Establishment of a Carbon Border Regulation System. The regulation reflects the EU’s green Trade scheme, which was established in 2019, through legislation that adjusts laws, regulations and policies in areas such as climate, energy, transport and taxation. The EU aims to reduce carbon emissions by 55% by 2030 and become carbon neutral by 2050. Lawyer Lin Yang explained the EU border carbon adjustment in the “Fit for 55” law, which requires EU importers to refer to the carbon emission price of the EU emissions trading system and pay for the corresponding carbon trading permits when importing certain products.
She also introduced the impact of the carbon tariff system on China-EU trade and gave strategies for the impact of the EU carbon tariff system. EU’s carbon tariffs will have a direct impact on China’s foreign trade. In the short term, carbon tariffs will greatly increase the cost of China’s export products, and may eventually lead to a gradual decline in the share of China’s export products in the European market, which will have a negative impact on China’s export trade. In the long run, the imposition of carbon tariffs will have a significant inhibitory effect on Chinese enterprises with high carbon emissions. Many enterprises will take measures to reduce the rising production costs, which will have a large negative impact on China’s economy. She outlined five coping strategies: invest more in technological innovation, continue to track changes in relevant laws and regulations, record and track your carbon footprint, seek EU registration, and deal with EU inspections.
The content of this analysis meeting is substantial and professional, attracting many viewers. As the overseas legal consultant of CCPIT, Yingke will continue to cooperate with CCPIT to bring high-level conferences and lectures, and provide professional and efficient legal services to facilitate cross-border cooperation and investment of Chinese enterprises.
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