Carbon border tax was called by Liam fox to help protect businesses
May 27, 2021, 2:06 pm

Carbon border tax

Liam Fox is seen outside Downing Street in London, Britain January 30, 2020. REUTERS/Simon Dawson

Susanna Twidale

Britain’s former trade minister Liam Fox has called for a carbon border tax to help protect businesses against cheaper imports from countries with less strict climate policies.

"I hope the government will bring forward concrete plans to create a workable proposal on this as soon as possible," he told Reuters.

Fox, trade minister from 2016-2019, was speaking ahead of a meeting of the world's seven largest advanced economies in Britain next month and will outline his tax proposal in a speech to the Centre for Policy Studies on Thursday.

"For UK and European business, there is an increasing view that the carbon price is now so high it is making them uncompetitive in a global context," he said.

"Why should they be taking measures to reduce their carbon footprint while high-polluting countries can sell into their markets without these costs."

Britain has a target of reaching net zero emissions by 2050 and last week launched a domestic emissions trading system charging power plants, factories, and airlines for each tonne of carbon dioxide they emit.

The British ETS replaces the country’s participation in the EU’s ETS, which it left following Brexit.

Prices in the British scheme trade around 51.50 pounds ($72.98) a tonne, a premium to Europe’s prices, which hit a record 56.90 euros ($69.62) a tonne last week.

A World Bank report this week said around a fifth of the world’s greenhouse gas emissions are covered by a price on carbon, either via an ETS or a carbon tax, but the cost of carbon varies greatly in different regions. read more

The EU is already drafting plans to impose a carbon border tax to protect energy-intensive industries such as steel, likely to not take effect before 2023.

Reuters, May 27, 202112:26 AM EEST

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”