Swiss companies to cap emissions or pay CO2 tax
Swiss companies will have to pay a carbon tax on heating fuels from next year unless they agree a binding cap on their emissions,
Earlier this year the Swiss government and parliament decided to introduce the levy from January 2008 if carbon dioxide emissions from heating fuels had not dropped at least six per cent by 2006 relative to 1990 levels. Data published last week showed a 4.5 per cent drop.
Companies will have to pay SFr12 (€7.2) for each tonne of CO2 emitted from heating fuels. Wood and biomass are exempt. The levy will increase in subsequent years if reduction targets for those years are not met.
Alongside the tax,
The scheme's participants are expected mainly to be energy-intensive manufacturing companies that import fossil fuels for heating purposes. The power sector will be largely unaffected as it relies on fossil-free hydroelectric and nuclear power.
Allowances will be distributed for free and access to
Meanwhile firms in non-energy-intensive sectors such as services are likely to opt for the tax over trading because revenues from the levy will be recycled to companies as a percentage of their wage bill. Low-emission, high-staff firms are expected to benefit from this. Revenue will also be recycled to individuals via health insurance discounts.
Courtesy of ENDS Europe Daily
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