EU Seeks Climate Cooperation With U.S., China: Canfin

The video discusses the importance of climate cooperation between China, the US, and the EU, despite geopolitical tensions. It highlights China's long-term climate goals and the challenges in aligning with the Paris Agreement. The EU's border adjustment mechanism is introduced, emphasizing its WTO compatibility to avoid trade conflicts. The impact of carbon pricing on industries and the need for protectionism to maintain competitiveness are also covered.

Why is it crucial for China, the US, and the EU to collaborate on climate action?

• They are the largest producers of renewable energy.

• They contribute to more than half of global emissions.

• They have similar political systems.

• They have the most advanced climate technologies.

What is the main concern regarding China's short-term climate actions?

• Excessive investment in renewable energy.

• Lack of technological innovation.

• Incompatibility with the Paris Agreement.

• Over-reliance on fossil fuels.

What is the purpose of the EU's border adjustment mechanism?

• To promote renewable energy exports.

• To ensure fair competition by imposing carbon pricing on imports.

• To increase trade tariffs.

• To reduce import taxes on green technologies.

Why must the EU's border adjustment mechanism be compatible with WTO rules?

• To avoid trade wars and ensure cooperation on climate.

• To increase the EU's global influence.

• To promote free trade agreements.

• To reduce carbon emissions globally.

Which industries are most affected by the European trading scheme?

• Agriculture and fisheries.

• Electricity, aluminium, steel, glass, and paper.

• Automobile and aviation.

• Textile and fashion.

What challenge do European industries face with the carbon pricing mechanism?

• Overproduction of goods.

• Inability to compete with importers who do not pay for carbon emissions.

• Increased competition from local companies.

• Lack of government support.

What is the current price of carbon in the European market?

• Under €20 per ton.

• Over €60 per ton.

• Over €40 per ton.

• Exactly €30 per ton.