Photo: Miloš Milivojević/Tanjug
Everything that Serbia has failed to do will be paid for on January 1, because importers in the EU will pay taxes on the built-in emissions of greenhouse gases on certain products
Serbia is late in fulfilling its obligations climatic goals and obligations, and it is increasingly certain that they will not meet the goal of reducing greenhouse gas (GHG) emissions from the Paris Agreement within the stipulated time, by 2030, and climate-energetske the transition must become an absolute political priority of the Government, the Fiscal Council assessed.
Fiscal Council President Blagoje Paunović emphasized that these issues must become a priority Vlade that Serbia would be able to connect with the climate and energy policies of the EU in general.
He added that the Fiscal Council calls on the Government to pay serious and long-term attention to the issue of energy and climate change, because otherwise, Serbia face serious changes, growth of economic and fiscal costs and significant loss of credibility in the eyes of the international community and foreign investors.
"Everything that Serbia has failed to do will be paid for on January 1, 2026, when the implementation of the mechanism for cross-border carbon price adjustment (CBAM) begins, which means that importers in the EU will pay taxes on the built-in GHG emissions of certain products," said Paunović.
He reminded that the Serbian economy is quite dependent on the EU market, that almost two-thirds of exports are placed in countries EU, and about 80 percent if the countries of the Bakan and the European Free Trade Association (EFTA) are added.
"The Serbian economy has a significantly larger carbon footprint per unit of product than its competitors from the EU, with industrial products (steel, cement, aluminum) emissions are 15 to 20 percent higher, while the most drastic difference is in the production of electricity - where domestic emissions in production are three to four times higher than in the EU," he said.
He pointed out that the main cause of Serbia's backwardness in those areas is the production of electricity from lignite in EPS, because almost 80 percent of national GHG emissions come from the energy sector, of which the production of electricity and thermal energy accounts for about 50 percent.
He explained that for the application of CBAM to the import of industrial products, an adjustment period will be provided until 2034, while the export of electrical energy will be charged 100 percent of the price of GHG emissions already in 2026.
"Exporting electricity from Serbia to the EU market is becoming practically unprofitable and there will be a drastic reduction or complete suspension of exports," Paunović assessed.
Source: FoNet
This October, "Vreme" celebrates and honors - as much as 35 percent discount for our 35th birthday! Valid for semi-annual and annual subscriptions. Subscribe now!
Australian "Qantas" presented a plane that will be able to fly for 22 hours continuously. The new "Airbus A350-1000ULR" is part of the ambitious "Sunrise" project, which should connect Sydney and London non-stop from 2027
In the IMF's "World Economic Review" report, Serbia is in 26th place out of 41 European countries in terms of GDP projections for 2026. Serbia's growth will slow down the most this year, it was announced in the regular autumn report.
Switzerland-based Gunvor has said it is withdrawing its bid to buy the international assets of Russia's Lukoil after the White House called it a "Kremlin puppet".
Energy expert Miloš Zdravković says that there will be no shortage of fuel, but the budget of Serbia will suffer enormous damage due to the sanctions on NIS. On the other hand, his colleague Željko Marković warns that disruptions in the oil derivatives market are inevitable
The state-owned company "Tigar AD" from Pirot joined the infamous group of factories that started accusing workers in the south of Serbia.
Aleksandar Vučić is carrying out an unannounced coup d'état. It's for nothing. He has no defense against the demand for justice. Because how can he look into the eyes of a mother who is on hunger strike, calm the people on the streets and silence the schoolchildren who are shouting on the excursion - "Pump!"
Aleksandar Vučić thinks he is traveling to Brussels on Tuesday as the President of the Republic of Serbia, but he is actually leaving as the President of Ćaciland. That's what he reduced himself to, only he's still not aware of it
A huge commemoration was held in Novi Sad for the victims of the carport, touching and necessary. The fixation on the exact number of people is completely missed because this is not that game anymore
The archive of the weekly Vreme includes all our digital editions, since the very beginning of our work. All issues can be downloaded in PDF format, by purchasing the digital edition, or you can read all available texts from the selected issue.
See all
