<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px"
xmlns="http://www.w3.org/1999/xhtml"><HEAD><TITLE></TITLE>
<META content="text/html; charset=utf-8" http-equiv=Content-Type><!--[if !mso]><!-->
<META content=IE=edge http-equiv=X-UA-Compatible><!--<![endif]-->
<META name=viewport content=width=device-width>
<STYLE type=text/css>
@media Unknown
{
.column {
}
.wrapper {
MIN-WIDTH: 600px !important
}
.wrapper H1 {
}
.wrapper H1 {
LINE-HEIGHT: 36px !important; FONT-SIZE: 28px !important
}
.wrapper H2 {
}
.wrapper H2 {
LINE-HEIGHT: 31px !important; FONT-SIZE: 22px !important
}
.wrapper H3 {
}
.wrapper H3 {
LINE-HEIGHT: 26px !important; FONT-SIZE: 18px !important
}
.wrapper .size-8 {
LINE-HEIGHT: 14px !important; FONT-SIZE: 8px !important
}
.wrapper .size-8-m {
LINE-HEIGHT: 14px !important; FONT-SIZE: 8px !important
}
.wrapper .size-8-l {
LINE-HEIGHT: 14px !important; FONT-SIZE: 8px !important
}
.wrapper .size-8-m {
LINE-HEIGHT: 16px !important
}
.wrapper .size-8-l {
LINE-HEIGHT: 24px !important
}
.wrapper .size-9 {
LINE-HEIGHT: 16px !important; FONT-SIZE: 9px !important
}
.wrapper .size-9-m {
LINE-HEIGHT: 16px !important; FONT-SIZE: 9px !important
}
.wrapper .size-9-l {
LINE-HEIGHT: 16px !important; FONT-SIZE: 9px !important
}
.wrapper .size-9-m {
LINE-HEIGHT: 18px !important
}
.wrapper .size-9-l {
LINE-HEIGHT: 27px !important
}
.wrapper .size-10 {
LINE-HEIGHT: 18px !important; FONT-SIZE: 10px !important
}
.wrapper .size-10-m {
LINE-HEIGHT: 18px !important; FONT-SIZE: 10px !important
}
.wrapper .size-10-l {
LINE-HEIGHT: 18px !important; FONT-SIZE: 10px !important
}
.wrapper .size-10-m {
LINE-HEIGHT: 20px !important
}
.wrapper .size-10-l {
LINE-HEIGHT: 30px !important
}
.wrapper .size-11 {
LINE-HEIGHT: 19px !important; FONT-SIZE: 11px !important
}
.wrapper .size-11-m {
LINE-HEIGHT: 19px !important; FONT-SIZE: 11px !important
}
.wrapper .size-11-l {
LINE-HEIGHT: 19px !important; FONT-SIZE: 11px !important
}
.wrapper .size-11-m {
LINE-HEIGHT: 22px !important
}
.wrapper .size-11-l {
LINE-HEIGHT: 33px !important
}
.wrapper .size-12 {
LINE-HEIGHT: 19px !important; FONT-SIZE: 12px !important
}
.wrapper .size-12-m {
LINE-HEIGHT: 19px !important; FONT-SIZE: 12px !important
}
.wrapper .size-12-l {
LINE-HEIGHT: 19px !important; FONT-SIZE: 12px !important
}
.wrapper .size-12-m {
LINE-HEIGHT: 24px !important
}
.wrapper .size-12-l {
LINE-HEIGHT: 36px !important
}
.wrapper .size-13 {
LINE-HEIGHT: 21px !important; FONT-SIZE: 13px !important
}
.wrapper .size-13-m {
LINE-HEIGHT: 21px !important; FONT-SIZE: 13px !important
}
.wrapper .size-13-l {
LINE-HEIGHT: 21px !important; FONT-SIZE: 13px !important
}
.wrapper .size-13-m {
LINE-HEIGHT: 26px !important
}
.wrapper .size-13-l {
LINE-HEIGHT: 39px !important
}
.wrapper .size-14 {
LINE-HEIGHT: 21px !important; FONT-SIZE: 14px !important
}
.wrapper .size-14-m {
LINE-HEIGHT: 21px !important; FONT-SIZE: 14px !important
}
.wrapper .size-14-l {
LINE-HEIGHT: 21px !important; FONT-SIZE: 14px !important
}
.wrapper .size-14-m {
LINE-HEIGHT: 28px !important
}
.wrapper .size-14-l {
LINE-HEIGHT: 42px !important
}
.wrapper .size-15 {
LINE-HEIGHT: 23px !important; FONT-SIZE: 15px !important
}
.wrapper .size-15-m {
LINE-HEIGHT: 23px !important; FONT-SIZE: 15px !important
}
.wrapper .size-15-l {
LINE-HEIGHT: 23px !important; FONT-SIZE: 15px !important
}
.wrapper .size-15-m {
LINE-HEIGHT: 30px !important
}
.wrapper .size-15-l {
LINE-HEIGHT: 45px !important
}
.wrapper .size-16 {
LINE-HEIGHT: 24px !important; FONT-SIZE: 16px !important
}
.wrapper .size-16-m {
LINE-HEIGHT: 24px !important; FONT-SIZE: 16px !important
}
.wrapper .size-16-l {
LINE-HEIGHT: 24px !important; FONT-SIZE: 16px !important
}
.wrapper .size-16-m {
LINE-HEIGHT: 32px !important
}
.wrapper .size-16-l {
LINE-HEIGHT: 48px !important
}
.wrapper .size-17 {
LINE-HEIGHT: 26px !important; FONT-SIZE: 17px !important
}
.wrapper .size-17-m {
LINE-HEIGHT: 26px !important; FONT-SIZE: 17px !important
}
.wrapper .size-17-l {
LINE-HEIGHT: 26px !important; FONT-SIZE: 17px !important
}
.wrapper .size-17-m {
LINE-HEIGHT: 34px !important
}
.wrapper .size-17-l {
LINE-HEIGHT: 51px !important
}
.wrapper .size-18 {
LINE-HEIGHT: 26px !important; FONT-SIZE: 18px !important
}
.wrapper .size-18-m {
LINE-HEIGHT: 26px !important; FONT-SIZE: 18px !important
}
.wrapper .size-18-l {
LINE-HEIGHT: 26px !important; FONT-SIZE: 18px !important
}
.wrapper .size-18-m {
LINE-HEIGHT: 36px !important
}
.wrapper .size-18-l {
LINE-HEIGHT: 54px !important
}
.wrapper .size-20 {
LINE-HEIGHT: 28px !important; FONT-SIZE: 20px !important
}
.wrapper .size-20-m {
LINE-HEIGHT: 28px !important; FONT-SIZE: 20px !important
}
.wrapper .size-20-l {
LINE-HEIGHT: 28px !important; FONT-SIZE: 20px !important
}
.wrapper .size-20-m {
LINE-HEIGHT: 40px !important
}
.wrapper .size-20-l {
LINE-HEIGHT: 60px !important
}
.wrapper .size-22 {
LINE-HEIGHT: 31px !important; FONT-SIZE: 22px !important
}
.wrapper .size-22-m {
LINE-HEIGHT: 31px !important; FONT-SIZE: 22px !important
}
.wrapper .size-22-l {
LINE-HEIGHT: 31px !important; FONT-SIZE: 22px !important
}
.wrapper .size-22-m {
LINE-HEIGHT: 44px !important
}
.wrapper .size-22-l {
LINE-HEIGHT: 66px !important
}
.wrapper .size-24 {
LINE-HEIGHT: 32px !important; FONT-SIZE: 24px !important
}
.wrapper .size-24-m {
LINE-HEIGHT: 32px !important; FONT-SIZE: 24px !important
}
.wrapper .size-24-l {
LINE-HEIGHT: 32px !important; FONT-SIZE: 24px !important
}
.wrapper .size-24-m {
LINE-HEIGHT: 48px !important
}
.wrapper .size-24-l {
LINE-HEIGHT: 72px !important
}
.wrapper .size-26 {
LINE-HEIGHT: 34px !important; FONT-SIZE: 26px !important
}
.wrapper .size-26-m {
LINE-HEIGHT: 34px !important; FONT-SIZE: 26px !important
}
.wrapper .size-26-l {
LINE-HEIGHT: 34px !important; FONT-SIZE: 26px !important
}
.wrapper .size-26-m {
LINE-HEIGHT: 52px !important
}
.wrapper .size-26-l {
LINE-HEIGHT: 78px !important
}
.wrapper .size-28 {
LINE-HEIGHT: 36px !important; FONT-SIZE: 28px !important
}
.wrapper .size-28-m {
LINE-HEIGHT: 36px !important; FONT-SIZE: 28px !important
}
.wrapper .size-28-l {
LINE-HEIGHT: 36px !important; FONT-SIZE: 28px !important
}
.wrapper .size-28-m {
LINE-HEIGHT: 56px !important
}
.wrapper .size-28-l {
LINE-HEIGHT: 84px !important
}
.wrapper .size-30 {
LINE-HEIGHT: 38px !important; FONT-SIZE: 30px !important
}
.wrapper .size-30-m {
LINE-HEIGHT: 38px !important; FONT-SIZE: 30px !important
}
.wrapper .size-30-l {
LINE-HEIGHT: 38px !important; FONT-SIZE: 30px !important
}
.wrapper .size-30-m {
LINE-HEIGHT: 60px !important
}
.wrapper .size-30-l {
LINE-HEIGHT: 90px !important
}
.wrapper .size-32 {
LINE-HEIGHT: 40px !important; FONT-SIZE: 32px !important
}
.wrapper .size-32-m {
LINE-HEIGHT: 40px !important; FONT-SIZE: 32px !important
}
.wrapper .size-32-l {
LINE-HEIGHT: 40px !important; FONT-SIZE: 32px !important
}
.wrapper .size-32-m {
LINE-HEIGHT: 64px !important
}
.wrapper .size-32-l {
LINE-HEIGHT: 96px !important
}
.wrapper .size-34 {
LINE-HEIGHT: 43px !important; FONT-SIZE: 34px !important
}
.wrapper .size-34-m {
LINE-HEIGHT: 43px !important; FONT-SIZE: 34px !important
}
.wrapper .size-34-l {
LINE-HEIGHT: 43px !important; FONT-SIZE: 34px !important
}
.wrapper .size-34-m {
LINE-HEIGHT: 68px !important
}
.wrapper .size-34-l {
LINE-HEIGHT: 102px !important
}
.wrapper .size-36 {
LINE-HEIGHT: 43px !important; FONT-SIZE: 36px !important
}
.wrapper .size-36-m {
LINE-HEIGHT: 43px !important; FONT-SIZE: 36px !important
}
.wrapper .size-36-l {
LINE-HEIGHT: 43px !important; FONT-SIZE: 36px !important
}
.wrapper .size-36-m {
LINE-HEIGHT: 72px !important
}
.wrapper .size-36-l {
LINE-HEIGHT: 108px !important
}
.wrapper .size-40 {
LINE-HEIGHT: 47px !important; FONT-SIZE: 40px !important
}
.wrapper .size-40-m {
LINE-HEIGHT: 47px !important; FONT-SIZE: 40px !important
}
.wrapper .size-40-l {
LINE-HEIGHT: 47px !important; FONT-SIZE: 40px !important
}
.wrapper .size-40-m {
LINE-HEIGHT: 80px !important
}
.wrapper .size-40-l {
LINE-HEIGHT: 120px !important
}
.wrapper .size-44 {
LINE-HEIGHT: 50px !important; FONT-SIZE: 44px !important
}
.wrapper .size-44-m {
LINE-HEIGHT: 50px !important; FONT-SIZE: 44px !important
}
.wrapper .size-44-l {
LINE-HEIGHT: 50px !important; FONT-SIZE: 44px !important
}
.wrapper .size-44-m {
LINE-HEIGHT: 88px !important
}
.wrapper .size-44-l {
LINE-HEIGHT: 132px !important
}
.wrapper .size-48 {
LINE-HEIGHT: 54px !important; FONT-SIZE: 48px !important
}
.wrapper .size-48-m {
LINE-HEIGHT: 54px !important; FONT-SIZE: 48px !important
}
.wrapper .size-48-l {
LINE-HEIGHT: 54px !important; FONT-SIZE: 48px !important
}
.wrapper .size-48-m {
LINE-HEIGHT: 96px !important
}
.wrapper .size-48-l {
LINE-HEIGHT: 144px !important
}
.wrapper .size-56 {
LINE-HEIGHT: 60px !important; FONT-SIZE: 56px !important
}
.wrapper .size-56-m {
LINE-HEIGHT: 60px !important; FONT-SIZE: 56px !important
}
.wrapper .size-56-l {
LINE-HEIGHT: 60px !important; FONT-SIZE: 56px !important
}
.wrapper .size-56-m {
LINE-HEIGHT: 112px !important
}
.wrapper .size-56-l {
LINE-HEIGHT: 168px !important
}
.wrapper .size-64 {
LINE-HEIGHT: 68px !important; FONT-SIZE: 64px !important
}
.wrapper .size-64-m {
LINE-HEIGHT: 68px !important; FONT-SIZE: 64px !important
}
.wrapper .size-64-l {
LINE-HEIGHT: 68px !important; FONT-SIZE: 64px !important
}
.wrapper .size-64-m {
LINE-HEIGHT: 128px !important
}
.wrapper .size-64-l {
LINE-HEIGHT: 192px !important
}
.wrapper .size-72 {
LINE-HEIGHT: 76px !important; FONT-SIZE: 72px !important
}
.wrapper .size-72-m {
LINE-HEIGHT: 76px !important; FONT-SIZE: 72px !important
}
.wrapper .size-72-l {
LINE-HEIGHT: 76px !important; FONT-SIZE: 72px !important
}
.wrapper .size-72-m {
LINE-HEIGHT: 144px !important
}
.wrapper .size-72-l {
LINE-HEIGHT: 216px !important
}
.wrapper .size-80 {
LINE-HEIGHT: 84px !important; FONT-SIZE: 80px !important
}
.wrapper .size-80-m {
LINE-HEIGHT: 84px !important; FONT-SIZE: 80px !important
}
.wrapper .size-80-l {
LINE-HEIGHT: 84px !important; FONT-SIZE: 80px !important
}
.wrapper .size-80-m {
LINE-HEIGHT: 160px !important
}
.wrapper .size-80-l {
LINE-HEIGHT: 240px !important
}
.wrapper .size-96 {
LINE-HEIGHT: 100px !important; FONT-SIZE: 96px !important
}
.wrapper .size-96-m {
LINE-HEIGHT: 100px !important; FONT-SIZE: 96px !important
}
.wrapper .size-96-l {
LINE-HEIGHT: 100px !important; FONT-SIZE: 96px !important
}
.wrapper .size-96-m {
LINE-HEIGHT: 192px !important
}
.wrapper .size-96-l {
LINE-HEIGHT: 288px !important
}
.wrapper .size-112 {
LINE-HEIGHT: 116px !important; FONT-SIZE: 112px !important
}
.wrapper .size-112-m {
LINE-HEIGHT: 116px !important; FONT-SIZE: 112px !important
}
.wrapper .size-112-l {
LINE-HEIGHT: 116px !important; FONT-SIZE: 112px !important
}
.wrapper .size-112-m {
LINE-HEIGHT: 224px !important
}
.wrapper .size-112-l {
LINE-HEIGHT: 336px !important
}
.wrapper .size-128 {
LINE-HEIGHT: 132px !important; FONT-SIZE: 128px !important
}
.wrapper .size-128-m {
LINE-HEIGHT: 132px !important; FONT-SIZE: 128px !important
}
.wrapper .size-128-l {
LINE-HEIGHT: 132px !important; FONT-SIZE: 128px !important
}
.wrapper .size-128-m {
LINE-HEIGHT: 256px !important
}
.wrapper .size-128-l {
LINE-HEIGHT: 384px !important
}
.wrapper .size-144 {
LINE-HEIGHT: 148px !important; FONT-SIZE: 144px !important
}
.wrapper .size-144-m {
LINE-HEIGHT: 148px !important; FONT-SIZE: 144px !important
}
.wrapper .size-144-l {
LINE-HEIGHT: 148px !important; FONT-SIZE: 144px !important
}
.wrapper .size-144-m {
LINE-HEIGHT: 288px !important
}
.wrapper .size-144-l {
LINE-HEIGHT: 432px !important
}
}
</STYLE>
<META name=x-apple-disable-message-reformatting>
<STYLE type=text/css>
.main, .mso {
margin: 0;
padding: 0;
}
table {
border-collapse: collapse;
table-layout: fixed;
}
* {
line-height: inherit;
}
[x-apple-data-detectors] {
color: inherit !important;
text-decoration: none !important;
}
.wrapper .footer__share-button a:hover,
.wrapper .footer__share-button a:focus {
color: #ffffff !important;
}
.wrapper .footer__share-button a.icon-white:hover,
.wrapper .footer__share-button a.icon-white:focus {
color: #ffffff !important;
}
.wrapper .footer__share-button a.icon-black:hover,
.wrapper .footer__share-button a.icon-black:focus {
color: #000000 !important;
}
.btn a:hover,
.btn a:focus,
.footer__share-button a:hover,
.footer__share-button a:focus,
.email-footer__links a:hover,
.email-footer__links a:focus {
opacity: 0.8;
}
.preheader,
.header,
.layout,
.column {
transition: width 0.25s ease-in-out, max-width 0.25s ease-in-out;
}
.preheader td {
padding-bottom: 8px;
}
.layout,
div.header {
max-width: 400px !important;
-fallback-width: 95% !important;
width: calc(100% - 20px) !important;
}
div.preheader {
max-width: 360px !important;
-fallback-width: 90% !important;
width: calc(100% - 60px) !important;
}
.snippet,
.webversion {
Float: none !important;
}
.stack .column {
max-width: 400px !important;
width: 100% !important;
}
.fixed-width.has-border {
max-width: 402px !important;
}
.fixed-width.has-border .layout__inner {
box-sizing: border-box;
}
.snippet,
.webversion {
width: 50% !important;
}
.mso .layout__edges {
font-size: 0;
}
.layout-fixed-width,
.mso .layout-full-width {
background-color: #ffffff;
}
@media only screen and (min-width: 620px) {
.column,
.gutter {
display: table-cell;
Float: none !important;
vertical-align: top;
}
div.preheader,
.email-footer {
max-width: 560px !important;
width: 560px !important;
}
.snippet,
.webversion {
width: 280px !important;
}
div.header,
.layout,
.one-col .column {
max-width: 600px !important;
width: 600px !important;
}
.fixed-width.has-border,
.fixed-width.x_has-border,
.has-gutter.has-border,
.has-gutter.x_has-border {
max-width: 602px !important;
width: 602px !important;
}
.two-col .column {
max-width: 300px !important;
width: 300px !important;
}
.three-col .column,
.column.narrow,
.column.x_narrow {
max-width: 200px !important;
width: 200px !important;
}
.column.wide,
.column.x_wide {
width: 400px !important;
}
.two-col.has-gutter .column,
.two-col.x_has-gutter .column {
max-width: 290px !important;
width: 290px !important;
}
.three-col.has-gutter .column,
.three-col.x_has-gutter .column,
.has-gutter .narrow {
max-width: 188px !important;
width: 188px !important;
}
.has-gutter .wide {
max-width: 394px !important;
width: 394px !important;
}
.two-col.has-gutter.has-border .column,
.two-col.x_has-gutter.x_has-border .column {
max-width: 292px !important;
width: 292px !important;
}
.three-col.has-gutter.has-border .column,
.three-col.x_has-gutter.x_has-border .column,
.has-gutter.has-border .narrow,
.has-gutter.x_has-border .narrow {
max-width: 190px !important;
width: 190px !important;
}
.has-gutter.has-border .wide,
.has-gutter.x_has-border .wide {
max-width: 396px !important;
width: 396px !important;
}
}
@supports (display: flex) {
@media only screen and (min-width: 620px) {
.fixed-width.has-border .layout__inner {
display: flex !important;
}
}
}
/***
* Mobile Styles
*
* 1. Overriding inline styles
*/
@media(max-width: 619px) {
.email-flexible-footer .left-aligned-footer .column,
.email-flexible-footer .center-aligned-footer,
.email-flexible-footer .right-aligned-footer .column {
max-width: 100% !important; /* [1] */
text-align: center !important; /* [1] */
width: 100% !important; /* [1] */
}
.flexible-footer-logo {
margin-left: 0px !important; /* [1] */
margin-right: 0px !important; /* [1] */
}
.email-flexible-footer .left-aligned-footer .flexible-footer__share-button__container,
.email-flexible-footer .center-aligned-footer .flexible-footer__share-button__container,
.email-flexible-footer .right-aligned-footer .flexible-footer__share-button__container {
display: inline-block;
margin-left: 5px !important; /* [1] */
margin-right: 5px !important; /* [1] */
}
.email-flexible-footer__additionalinfo--center {
text-align: center !important; /* [1] */
}
.email-flexible-footer .left-aligned-footer table,
.email-flexible-footer .center-aligned-footer table,
.email-flexible-footer .right-aligned-footer table {
display: table !important; /* [1] */
width: 100% !important; /* [1] */
}
.email-flexible-footer .footer__share-button,
.email-flexible-footer .email-footer__additional-info {
margin-left: 20px;
margin-right: 20px;
}
}
@media only screen and (-webkit-min-device-pixel-ratio: 2), only screen and (min--moz-device-pixel-ratio: 2), only screen and (-o-min-device-pixel-ratio: 2/1), only screen and (min-device-pixel-ratio: 2), only screen and (min-resolution: 192dpi), only screen and (min-resolution: 2dppx) {
.fblike {
background-image: url(https://i7.cmail19.com/static/eb/master/13-the-blueprint-3/images/fblike@2x.png) !important;
}
.tweet {
background-image: url(https://i8.cmail19.com/static/eb/master/13-the-blueprint-3/images/tweet@2x.png) !important;
}
.linkedinshare {
background-image: url(https://i9.cmail19.com/static/eb/master/13-the-blueprint-3/images/lishare@2x.png) !important;
}
.forwardtoafriend {
background-image: url(https://i10.cmail19.com/static/eb/master/13-the-blueprint-3/images/forward@2x.png) !important;
}
}
@media (max-width: 321px) {
.fixed-width.has-border .layout__inner {
border-width: 1px 0 !important;
}
.layout,
.stack .column {
min-width: 320px !important;
width: 320px !important;
}
.border {
display: none;
}
.has-gutter .border {
display: table-cell;
}
}
.cmctbl--inline table {
border-collapse: collapse;
}
</STYLE>
<!--[if !mso]><!-->
<STYLE type=text/css>
@import url(https://fonts.googleapis.com/css?family=Montserrat:400,700,400italic,700italic);
</STYLE>
<LINK rel=stylesheet type=text/css
href="https://fonts.googleapis.com/css?family=Montserrat:400,700,400italic,700italic"><!--<![endif]-->
<STYLE type=text/css>
.main,.mso{background-color:#fff}.logo a:hover,.logo a:focus{color:#1e2e3b !important}.footer-logo a:hover,.footer-logo a:focus{color:#372d1b !important}.mso .layout-has-border{border-top:1px solid #ccc;border-bottom:1px solid #ccc}.mso .layout-has-bottom-border{border-bottom:1px solid #ccc}.mso .border{background-color:#ccc}.mso h1{}.mso h1{font-size:28px !important;line-height:36px !important}.mso h2{}.mso h2{font-size:22px !important;line-height:31px !important}.mso h3{}.mso h3{font-size:18px !important;line-height:26px !important}.mso .layout__inner{}.mso .footer__share-button p{}.mso .footer__share-button p{font-family:Montserrat,DejaVu Sans,Verdana,sans-serif}
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">The world's first carbon
border tax is due to be phased in from October. Over three years, the
European Union's carbon border adjustment mechanism will gradually place
the same levy on greenhouse gas emissions associated with imported goods
produced outside the EU as those made within the bloc. </P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">The new law is supposed to
prevent firms skirting the EU's carbon tax by shifting factories overseas
and exporting products back. The EU aims to eliminate this "carbon
leakage" and encourage companies in Europe and abroad to adopt less
polluting production methods. But academics warn it could entrench unjust
trading relations and weaken the EU's poorer trading partners.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">You're reading the Imagine
newsletter – a weekly synthesis of academic insight on solutions to
climate change, brought to you by The Conversation. I'm Jack Marley,
energy and environment editor. This week, we're looking at what the EU's
carbon border tax might mean for the rest of the world.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">To emit 1 tonne of carbon
dioxide within the EU, firms must pay around €80 (US$86). This is the EU's
emissions trading scheme and estimates suggest it has cut emissions by <A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-r/"
data-emb-iscopy="true">more than 40%</A> among sectors covered by it.
According to Antoine Godin and Guilherme Riccioppo Magacho, economists at
Agence française de développement, that includes more than 10,000 power
plants and numerous steelworks, oil refineries and factories across the 27
member states plus Iceland, Liechtenstein and Norway.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">Under the carbon border
tax, importers will be charged the same amount as domestic producers for
the carbon emitted making the goods they bring into the EU. Iron, steel,
cement, aluminium, fertilisers, hydrogen and electricity generation are to
be the initial sectors the measure will extend to.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">While the policy's
architects laud the carbon border tax as a chance for the EU to play "<A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-y/"
data-emb-iscopy="true">a leading role</A>" in global climate action,
others see it as an effort to protect European industries at the expense
of emerging economies.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"The question being raised
is <A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-j/"
data-emb-iscopy="true"><STRONG>whether such climate action is
just</STRONG></A>," says David Luke, a professor of trade policy and
negotiations at the London School of Economics.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">In <A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-t/"
data-emb-iscopy="true">new research</A>, Luke and fellow researchers
highlight that the very industries which will shortly fall under the EU's
carbon border adjustment mechanism are critical to African economies.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"We conclude that the new
policy will wipe out 0.91% of the continent’s combined GDP (equivalent to
a fall of US$25 billion at 2021 levels of GDP)," he says.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"To put this in context,
the annual losses from the border tax represent, in value, three times the
development cooperation budget that the EU committed to Africa in
2021."</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px"><STRONG>Fair for
everyone?</STRONG></P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">Luke found that Africa
will be the region hardest hit by the border tax. Finding new export
markets, like India and China, could soften the blow – but that's a tall
order, he says.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"Take the case of
Mozambique. Our modelling found that the country is particularly exposed
to the new law because of its aluminium exports to the EU while the value
of its exports to China is almost negligible."</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">The EU plans to recycle
the money raised by the tax into the research and development of new
technologies within Europe. That would rule out compensation for
exporters, which would be one way of helping African countries weather the
carbon border adjustment mechanism. Even so, the €1 billion that the tax
is expected to generate would not make up for the revenue it will cost
Africa, Luke says.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"Africa could arguably
weather the impact of the law had it been in the process of scaling up
renewable energy capacity," he adds. This would help lower the emissions
associated with making products in Africa by making it possible to replace
coal and gas furnaces with electric and low-carbon alternatives.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"Yet, to date, the
continent continues to attract a mere 2% of global investments in
renewable energy. The climate finance that was promised is not
forthcoming. Nor has the EU itself contributed its fair share to
international climate finance."</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">Macroeconomic analyses
tend to assume that all countries are generally capable of migrating from
a polluting industry to a green one according to Godin and Riccioppo
Magacho. This ignores the fact that some countries, including Germany and
Denmark, are leading manufacturers of things like wind turbines and can
respond to carbon taxes by creating jobs in these expanding domestic
industries. Other countries must import these technologies while they <A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-i/"
data-emb-iscopy="true"><STRONG>lose their export markets</STRONG></A>.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">In their research, Godin
and Riccioppo Magacho found that the carbon border tax could affect 6% of
wage income in Moldova and Mozambique. Serbia and Bosnia Herzegovina, two
European countries with significant steel industries, could suffer job
losses of around 3%. The harm will be even greater in countries with
threadbare social security nets like Zimbabwe, the pair say.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px"><STRONG>Is it worth
it?</STRONG></P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">So is a carbon border tax
<A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-d/"
data-emb-iscopy="true"><STRONG>still a good idea?</STRONG></A> To
answer this question, Timothy Hamilton, an associate professor of
economics at the University of Richmond, refers to a 2014 paper which
reviewed economic modelling from different countries.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">Countries with a carbon
tax but no border adjustment mechanism leaked 5% to 25% of their total
emissions to other countries as firms moved elsewhere. But with a border
tax, countries could increase the total amount of carbon they cut by as
much as 5%, the review suggested.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"Border carbon taxes don’t
solve the entire problem. When climate policies in a few large countries
reduce demand for products like fossil fuels, that can lower the global
price of those products, which can result in more consumption elsewhere,"
Hamilton says. "That’s where international agreements become
essential."</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">Such agreements would need
to account for the way in which trading relations emerged says Wim Carton,
a professor of economics at University College Cork.</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"Many countries’
approaches to exports can be traced back to hub-spoke relationships <A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-h/"
data-emb-iscopy="true"><STRONG>established during the colonial
period</STRONG></A>. Most African nations, for example, have almost
exclusively focused on mass production for faraway international markets
rather than developing their domestic markets."</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px">"The world needs to take
steps to change this system, so that both environmental and
non-environmental goods are more commonly produced closer to their
consumers."</P>
<P style="MARGIN-TOP: 20px; MARGIN-BOTTOM: 0px"><EM>Imagine is taking a
brief summer hiatus and will be back at the usual time in a week or
two.</EM></P>
<P
style="LINE-HEIGHT: 24px; MARGIN-TOP: 20px; MARGIN-BOTTOM: 20px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><EM>- Jack Marley, Environment commissioning
editor</EM></P></DIV></DIV>
<DIV style="MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
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style="LINE-HEIGHT: 2px; BACKGROUND-COLOR: #ccc; WIDTH: 40px; DISPLAY: block; MARGIN-BOTTOM: 20px; MARGIN-LEFT: auto; FONT-SIZE: 2px; MARGIN-RIGHT: auto"
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<DIV
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 20px"><EM><SPAN
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data-emb-iscopy="true">Subscribe to
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style="LINE-HEIGHT: 2px; BACKGROUND-COLOR: #ccc; WIDTH: 40px; DISPLAY: block; MARGIN-LEFT: auto; FONT-SIZE: 2px; MARGIN-RIGHT: auto"
class=divider></DIV></DIV></DIV><!--[if mso]></td></tr></table><![endif]--></DIV></DIV>
<DIV
style="LINE-HEIGHT: 15px; FONT-SIZE: 15px; mso-line-height-rule: exactly"> </DIV>
<DIV
style="MIN-WIDTH: 320px; MARGIN: 0px auto; WIDTH: 320px; MAX-WIDTH: 600px; WORD-WRAP: break-word; overflow-wrap: break-word"
class="layout one-col fixed-width stack">
<DIV
style="BACKGROUND-COLOR: #ffffff; WIDTH: 100%; DISPLAY: table; BORDER-COLLAPSE: collapse"
class=layout__inner><!--[if mso]><table align="center" cellpadding="0" cellspacing="0" role="presentation"><tr class="layout-fixed-width" style="background-color: #ffffff;"><td style="width: 600px" class="w560"><![endif]-->
<DIV
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; COLOR: #202020; FONT-SIZE: 16px"
class=column>
<DIV
style="LINE-HEIGHT: 19px; FONT-STYLE: normal; FONT-SIZE: 12px; FONT-WEIGHT: normal"
align=center><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-u/"><IMG
style="BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; DISPLAY: block; MAX-WIDTH: 668px; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: auto; BORDER-LEFT-WIDTH: 0px"
class="gnd-corner-image gnd-corner-image-center gnd-corner-image-top"
alt="Close-up images of Duvha Power station at Middleburg coal mine in Mpumalanga, South Africa."
src="https://i2.cmail19.com/ei/r/2A/66D/881/015619/csfinal/file-20230623-29-qgpsvc-9900000000079e3c.jpeg"
width=600></A> </DIV>
<DIV style="MARGIN-TOP: 20px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV
style="VERTICAL-ALIGN: middle; mso-line-height-rule: exactly; mso-text-raise: 11px">
<P
style="LINE-HEIGHT: 28px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 20px"
lang=x-size-24 class=size-24><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-o/"
data-emb-iscopy="true"><STRONG>EU’s carbon border tax: a new report shows
Africa stands to lose US$25 billion every year</STRONG></A></P>
<P
style="LINE-HEIGHT: 24px; MARGIN-TOP: 20px; MARGIN-BOTTOM: 20px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16>The strong trade relationship with the EU
means policy changes like the border tax may have disproportionately
significant effects on African economies.</P></DIV></DIV>
<DIV style="MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV style="TEXT-ALIGN: left; MARGIN-BOTTOM: 20px"
class="btn btn--flat btn--small"><!--[if !mso]><!--><A
style="TEXT-ALIGN: center; PADDING-BOTTOM: 6px; LINE-HEIGHT: 19px; BACKGROUND-COLOR: #29339b; PADDING-LEFT: 12px; PADDING-RIGHT: 12px; DISPLAY: inline-block; FONT-FAMILY: Montserrat, DejaVu Sans, Verdana, sans-serif; COLOR: #ffffff !important; FONT-SIZE: 11px; FONT-WEIGHT: bold; TEXT-DECORATION: none !important; PADDING-TOP: 6px; transition: opacity 0.1s ease-in; border-radius: 4px"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-b/">Read
more</A><!--<![endif]--><!--[if mso]><p style="line-height:0;margin:0;"> </p><v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-b/" style="width:68.25pt" arcsize="13%" fillcolor="#29339B" stroke="f"><v:textbox style="mso-fit-shape-to-text:t" inset="0pt,3.75pt,0pt,3.75pt"><center style="font-size:11px;line-height:19px;color:#FFFFFF;font-family:Montserrat,DejaVu Sans,Verdana,sans-serif;font-weight:bold;mso-line-height-rule:exactly;mso-text-raise:1.25px">Read more</center></v:textbox></v:roundrect><![endif]-->
</DIV></DIV>
<DIV style="MARGIN-BOTTOM: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV
style="LINE-HEIGHT: 2px; BACKGROUND-COLOR: #ccc; WIDTH: 40px; DISPLAY: block; MARGIN-LEFT: auto; FONT-SIZE: 2px; MARGIN-RIGHT: auto"
class=divider></DIV></DIV></DIV><!--[if mso]></td></tr></table><![endif]--></DIV></DIV>
<DIV
style="LINE-HEIGHT: 20px; FONT-SIZE: 20px; mso-line-height-rule: exactly"> </DIV>
<DIV
style="MIN-WIDTH: 320px; MARGIN: 0px auto; WIDTH: 320px; MAX-WIDTH: 600px; WORD-WRAP: break-word; overflow-wrap: break-word"
class="layout fixed-width stack">
<DIV
style="BACKGROUND-COLOR: #ffffff; WIDTH: 100%; DISPLAY: table; BORDER-COLLAPSE: collapse"
class=layout__inner><!--[if mso]><table align="center" cellpadding="0" cellspacing="0" role="presentation"><tr class="layout-fixed-width" style="background-color: #ffffff;"><td style="width: 200px" valign="top" class="w160"><![endif]-->
<DIV
style="MIN-WIDTH: 200px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 320px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column narrow">
<DIV style="MARGIN: 12px 20px">
<DIV
style="LINE-HEIGHT: 19px; FONT-STYLE: normal; FONT-SIZE: 12px; FONT-WEIGHT: normal"
align=center><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-p/"><IMG
style="BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; DISPLAY: block; MAX-WIDTH: 480px; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: auto; BORDER-LEFT-WIDTH: 0px"
alt="A steel plant in Bosnia-Herzegovina."
src="https://i3.cmail19.com/ei/r/2A/66D/881/015619/csfinal/file-20230109-24-jwalf9-990000079e01453c.jpeg"
width=160></A> </DIV></DIV></DIV><!--[if mso]></td><td style="width: 400px" valign="top" class="w360"><![endif]-->
<DIV
style="MIN-WIDTH: 320px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 400px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column wide">
<DIV style="MARGIN-TOP: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV
style="VERTICAL-ALIGN: middle; mso-line-height-rule: exactly; mso-text-raise: 11px">
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><STRONG><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-x/"
data-emb-iscopy="true">Is Europe’s new carbon border tax fair
for everyone?</A></STRONG></P>
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 20px; MARGIN-BOTTOM: 20px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><SPAN style="COLOR: #202020">Already lacking
the means to decarbonise their industry or turn to greener alternatives,
poor countries could also be deprived of revenues from exports to
Europe.</SPAN></P></DIV></DIV>
<DIV style="MARGIN-BOTTOM: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV style="TEXT-ALIGN: left" class="btn btn--flat btn--small"><!--[if !mso]><!--><A
style="TEXT-ALIGN: center; PADDING-BOTTOM: 6px; LINE-HEIGHT: 19px; BACKGROUND-COLOR: #29339b; PADDING-LEFT: 12px; PADDING-RIGHT: 12px; DISPLAY: inline-block; FONT-FAMILY: Montserrat, DejaVu Sans, Verdana, sans-serif; COLOR: #ffffff !important; FONT-SIZE: 11px; FONT-WEIGHT: bold; TEXT-DECORATION: none !important; PADDING-TOP: 6px; transition: opacity 0.1s ease-in; border-radius: 4px"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-c/">Read
more</A><!--<![endif]--><!--[if mso]><p style="line-height:0;margin:0;"> </p><v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-c/" style="width:68.25pt" arcsize="13%" fillcolor="#29339B" stroke="f"><v:textbox style="mso-fit-shape-to-text:t" inset="0pt,3.75pt,0pt,3.75pt"><center style="font-size:11px;line-height:19px;color:#FFFFFF;font-family:Montserrat,DejaVu Sans,Verdana,sans-serif;font-weight:bold;mso-line-height-rule:exactly;mso-text-raise:1.25px">Read more</center></v:textbox></v:roundrect><![endif]-->
</DIV></DIV></DIV><!--[if mso]></td></tr></table><![endif]--></DIV></DIV>
<DIV
style="LINE-HEIGHT: 20px; FONT-SIZE: 20px; mso-line-height-rule: exactly"> </DIV>
<DIV
style="MIN-WIDTH: 320px; MARGIN: 0px auto; WIDTH: 320px; MAX-WIDTH: 600px; WORD-WRAP: break-word; overflow-wrap: break-word"
class="layout fixed-width stack">
<DIV
style="BACKGROUND-COLOR: #ffffff; WIDTH: 100%; DISPLAY: table; BORDER-COLLAPSE: collapse"
class=layout__inner><!--[if mso]><table align="center" cellpadding="0" cellspacing="0" role="presentation"><tr class="layout-fixed-width" style="background-color: #ffffff;"><td style="width: 200px" valign="top" class="w160"><![endif]-->
<DIV
style="MIN-WIDTH: 200px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 320px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column narrow">
<DIV style="MARGIN: 12px 20px">
<DIV
style="LINE-HEIGHT: 19px; FONT-STYLE: normal; FONT-SIZE: 12px; FONT-WEIGHT: normal"
align=center><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-q/"><IMG
style="BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; DISPLAY: block; MAX-WIDTH: 480px; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: auto; BORDER-LEFT-WIDTH: 0px"
alt="Giant shipping containers stacked on 10 high on a ship at a port."
src="https://i4.cmail19.com/ei/r/2A/66D/881/015619/csfinal/file-20210406-19-1t1uq0k-990000079e01453c.jpeg"
width=160></A> </DIV></DIV></DIV><!--[if mso]></td><td style="width: 400px" valign="top" class="w360"><![endif]-->
<DIV
style="MIN-WIDTH: 320px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 400px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column wide">
<DIV style="MARGIN-TOP: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV
style="VERTICAL-ALIGN: middle; mso-line-height-rule: exactly; mso-text-raise: 11px">
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><STRONG><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-a/"
data-emb-iscopy="true">The EU wants a carbon border tax on imports – but
would it do the job officials expect?</A></STRONG></P>
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 20px; MARGIN-BOTTOM: 20px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><SPAN style="COLOR: #202020">It's meant to
stop what's known as 'carbon leakage' – when production moves elsewhere to
avoid climate policies – but the solution has economic, legal and
environmental consequences.</SPAN></P></DIV></DIV>
<DIV style="MARGIN-BOTTOM: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV style="TEXT-ALIGN: left" class="btn btn--flat btn--small"><!--[if !mso]><!--><A
style="TEXT-ALIGN: center; PADDING-BOTTOM: 6px; LINE-HEIGHT: 19px; BACKGROUND-COLOR: #29339b; PADDING-LEFT: 12px; PADDING-RIGHT: 12px; DISPLAY: inline-block; FONT-FAMILY: Montserrat, DejaVu Sans, Verdana, sans-serif; COLOR: #ffffff !important; FONT-SIZE: 11px; FONT-WEIGHT: bold; TEXT-DECORATION: none !important; PADDING-TOP: 6px; transition: opacity 0.1s ease-in; border-radius: 4px"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-f/">Read
more</A><!--<![endif]--><!--[if mso]><p style="line-height:0;margin:0;"> </p><v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-f/" style="width:68.25pt" arcsize="13%" fillcolor="#29339B" stroke="f"><v:textbox style="mso-fit-shape-to-text:t" inset="0pt,3.75pt,0pt,3.75pt"><center style="font-size:11px;line-height:19px;color:#FFFFFF;font-family:Montserrat,DejaVu Sans,Verdana,sans-serif;font-weight:bold;mso-line-height-rule:exactly;mso-text-raise:1.25px">Read more</center></v:textbox></v:roundrect><![endif]-->
</DIV></DIV></DIV><!--[if mso]></td></tr></table><![endif]--></DIV></DIV>
<DIV
style="LINE-HEIGHT: 20px; FONT-SIZE: 20px; mso-line-height-rule: exactly"> </DIV>
<DIV
style="MIN-WIDTH: 320px; MARGIN: 0px auto; WIDTH: 320px; MAX-WIDTH: 600px; WORD-WRAP: break-word; overflow-wrap: break-word"
class="layout fixed-width stack">
<DIV
style="BACKGROUND-COLOR: #ffffff; WIDTH: 100%; DISPLAY: table; BORDER-COLLAPSE: collapse"
class=layout__inner><!--[if mso]><table align="center" cellpadding="0" cellspacing="0" role="presentation"><tr class="layout-fixed-width" style="background-color: #ffffff;"><td style="width: 200px" valign="top" class="w160"><![endif]-->
<DIV
style="MIN-WIDTH: 200px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 320px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column narrow">
<DIV style="MARGIN: 12px 20px">
<DIV
style="LINE-HEIGHT: 19px; FONT-STYLE: normal; FONT-SIZE: 12px; FONT-WEIGHT: normal"
align=center><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-z/"><IMG
style="BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; DISPLAY: block; MAX-WIDTH: 480px; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: auto; BORDER-LEFT-WIDTH: 0px"
alt="A container ship at sea."
src="https://i5.cmail19.com/ei/r/2A/66D/881/015619/csfinal/file-20211117-27-1yseyq8-990000079e01453c.jpeg"
width=160></A> </DIV></DIV></DIV><!--[if mso]></td><td style="width: 400px" valign="top" class="w360"><![endif]-->
<DIV
style="MIN-WIDTH: 320px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 400px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column wide">
<DIV style="MARGIN-TOP: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV
style="VERTICAL-ALIGN: middle; mso-line-height-rule: exactly; mso-text-raise: 11px">
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><STRONG><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-v/"
data-emb-iscopy="true">New deal to decarbonise shipping isn’t enough –
here’s how global trade can reach net-zero</A></STRONG></P>
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 20px; MARGIN-BOTTOM: 20px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><SPAN style="COLOR: #202020">A group of
powerful countries have agreed 'green corridors' for emissions-free
shipping by 2025, but that's not even half the
battle. </SPAN></P></DIV></DIV>
<DIV style="MARGIN-BOTTOM: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV style="TEXT-ALIGN: left" class="btn btn--flat btn--small"><!--[if !mso]><!--><A
style="TEXT-ALIGN: center; PADDING-BOTTOM: 6px; LINE-HEIGHT: 19px; BACKGROUND-COLOR: #29339b; PADDING-LEFT: 12px; PADDING-RIGHT: 12px; DISPLAY: inline-block; FONT-FAMILY: Montserrat, DejaVu Sans, Verdana, sans-serif; COLOR: #ffffff !important; FONT-SIZE: 11px; FONT-WEIGHT: bold; TEXT-DECORATION: none !important; PADDING-TOP: 6px; transition: opacity 0.1s ease-in; border-radius: 4px"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-e/">Read
more</A><!--<![endif]--><!--[if mso]><p style="line-height:0;margin:0;"> </p><v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-e/" style="width:68.25pt" arcsize="13%" fillcolor="#29339B" stroke="f"><v:textbox style="mso-fit-shape-to-text:t" inset="0pt,3.75pt,0pt,3.75pt"><center style="font-size:11px;line-height:19px;color:#FFFFFF;font-family:Montserrat,DejaVu Sans,Verdana,sans-serif;font-weight:bold;mso-line-height-rule:exactly;mso-text-raise:1.25px">Read more</center></v:textbox></v:roundrect><![endif]-->
</DIV></DIV></DIV><!--[if mso]></td></tr></table><![endif]--></DIV></DIV>
<DIV
style="LINE-HEIGHT: 20px; FONT-SIZE: 20px; mso-line-height-rule: exactly"> </DIV>
<DIV
style="MIN-WIDTH: 320px; MARGIN: 0px auto; WIDTH: 320px; MAX-WIDTH: 600px; WORD-WRAP: break-word; overflow-wrap: break-word"
class="layout fixed-width stack">
<DIV
style="BACKGROUND-COLOR: #ffffff; WIDTH: 100%; DISPLAY: table; BORDER-COLLAPSE: collapse"
class=layout__inner><!--[if mso]><table align="center" cellpadding="0" cellspacing="0" role="presentation"><tr class="layout-fixed-width" style="background-color: #ffffff;"><td style="width: 200px" valign="top" class="w160"><![endif]-->
<DIV
style="MIN-WIDTH: 200px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 320px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column narrow">
<DIV style="MARGIN: 12px 20px">
<DIV
style="LINE-HEIGHT: 19px; FONT-STYLE: normal; FONT-SIZE: 12px; FONT-WEIGHT: normal"
align=center><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-s/"><IMG
style="BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; DISPLAY: block; MAX-WIDTH: 480px; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: auto; BORDER-LEFT-WIDTH: 0px"
alt="Wind turbines at dusk."
src="https://i6.cmail19.com/ei/r/2A/66D/881/015619/csfinal/file-20191216-123983-se2cj7-990000079e01453c.jpeg"
width=160></A> </DIV></DIV></DIV><!--[if mso]></td><td style="width: 400px" valign="top" class="w360"><![endif]-->
<DIV
style="MIN-WIDTH: 320px; TEXT-ALIGN: left; LINE-HEIGHT: 24px; WIDTH: 320px; FONT-FAMILY: Montserrat,DejaVu Sans,Verdana,sans-serif; MAX-WIDTH: 400px; FLOAT: left; COLOR: #202020; FONT-SIZE: 16px"
class="column wide">
<DIV style="MARGIN-TOP: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV
style="VERTICAL-ALIGN: middle; mso-line-height-rule: exactly; mso-text-raise: 11px">
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><STRONG><A
style="COLOR: #202020; TEXT-DECORATION: underline; transition: opacity 0.1s ease-in"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-g/"
data-emb-iscopy="true"><SPAN style="COLOR: #202020">‘Green Deal’ seeks to
make Europe the first climate-neutral continent by
2050</SPAN></A></STRONG></P>
<P
style="TEXT-ALIGN: left; LINE-HEIGHT: 24px; MARGIN-TOP: 20px; MARGIN-BOTTOM: 20px; FONT-SIZE: 16px"
lang=x-size-16 class=size-16><SPAN style="COLOR: #202020">The European
Commission will propose a wide-ranging 'climate law' in the next few
months.</SPAN></P></DIV></DIV>
<DIV style="MARGIN-BOTTOM: 12px; MARGIN-LEFT: 20px; MARGIN-RIGHT: 20px">
<DIV style="TEXT-ALIGN: left" class="btn btn--flat btn--small"><!--[if !mso]><!--><A
style="TEXT-ALIGN: center; PADDING-BOTTOM: 6px; LINE-HEIGHT: 19px; BACKGROUND-COLOR: #29339b; PADDING-LEFT: 12px; PADDING-RIGHT: 12px; DISPLAY: inline-block; FONT-FAMILY: Montserrat, DejaVu Sans, Verdana, sans-serif; COLOR: #ffffff !important; FONT-SIZE: 11px; FONT-WEIGHT: bold; TEXT-DECORATION: none !important; PADDING-TOP: 6px; transition: opacity 0.1s ease-in; border-radius: 4px"
href="https://theconversationuk.cmail19.com/t/r-l-ttdlpdd-nljldnkrt-w/">Read
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