Matthew Dalton and Sha Hua of The Wall Street Journal report on the European Union and China’s sweeping plans to cut greenhouse gas emissions.
- The EU and China plan to curb greenhouse gas emissions by setting stringent regulations and standards on businesses, consumers, and individuals.
- Part of the plan includes a carbon border adjustment mechanism that would impose tariffs on goods from more carbon-intensive countries.
- Excessive mandates and regulations will increase costs on consumers while providing negligible environmental benefits. As we have seen in the United States, the best way to reduce emissions is by embracing economic freedom.
“The European Union and China announced sweeping plans to limit greenhouse-gas emissions that will increase costs for industry and consumers but drew criticism from environmentalists as not going far enough to slow climate change.”
Read the full article here.