公开信息显示，欧盟将于2026年1月实施碳关税，首批覆盖钢铁、铝、水泥、化肥、电力和氢气六类高 碳泄漏风险产品，要求进口商申报产品隐含碳排放量并购买对应金额的CBAM证书。数字产品护照 （DPP）预计于2027年落地实施，根据欧盟立法，DPP将在电池、纺织、家具等行业分阶段进行实施， 未来将推广到其他产品和行业领域。届时，每一件进入欧盟市场的产品都须具备一个独特的"二维码"， 涵盖产品全生命周期的信息，包括碳足迹、水资源利用等影响，乃至整个供应链上所有供应商信息。 据海关总署数据，2024年中国以美元计价对欧盟出口5164.61亿美元，同比上升3.0%，是欧盟第一大进 口来源地，2025年前11个月中欧贸易总值继续增长5.4%。在此背景下，欧盟推行的"绿色关卡"，无疑将 对我国相关出口企业产生重要影响。 盛馥来认为，面对欧盟的"绿色关卡"，一方面出口企业需面对欧盟的要求及自身长远发展而主动"健 身"达标，并将绿色低碳转型内化为核心竞争力和长期发展战略。另一方面，金融机构要协助企业客户 来进行"绿色体检"，且从传统的资金提供者与风险承担者，升级为企业绿色转型的"教练"与"体检官"。 具体而言，对金融机构的要求包 ...

这两项计划早在2023年就已列入优先清单。今年再次入选表明，它们将被纳入Snam明年初发布的新产 业（300832）规划。欧盟这份包含235项计划的清单中，包括连接阿尔及利亚、意大利、奥地利和德国 的氢气管道项目，即南部绿氢2号走廊项目(SoutH2Corridor)，以及位于意大利拉文纳海岸附近的卡利斯 托海上二氧化碳储存设施项目。 据阿尔及利亚ALGERIE ECO网站12月1日报道，欧盟委员会12月1日宣布，由意大利天然气网络运营商 Snam主导的两项计划被列入新跨境能源项目优先清单。这意味着这两项计划有资格获得欧盟的资金支 持。 这两项计划被归类为"共同利益项目"和"互利项目"，将享受快速审批程序，有望获得欧盟财政支持。 ...

Core Points - The European Parliament has voted overwhelmingly (617 votes in favor, 18 against) to exempt over 90% of small and medium-sized enterprises (SMEs) from the EU carbon border adjustment tax [1] - This tax is levied on imports based on the estimated carbon footprint of specific goods such as steel and cement, and will enter a transitional phase starting October 2023 [1] - From 2026, importers will be required to report the carbon footprint of their goods and pay duties where applicable [1] - Following the exemption from the EU border tax, SMEs will not need to report the carbon emissions associated with imports of steel, cement, aluminum, fertilizers, electricity, or hydrogen into the EU [1]

多位高管和基金经理表示，特朗普政府关税政策反复无常，令投资者担忧，而欧洲市场环境相对稳定。卢森堡氢气公司H2Apex首席执行官Peter Roessner称，因美国不确定性高，氢行业投资者更关注欧洲市场。德国投资基金Deka首席信息官办公室负责人Christoph Witzke表示，美国政治干 预造成不确定性，欧洲成投资者会议关注中心。欧洲央行总裁拉加德也指出市场看到欧洲价值并对其有信心。 数据印证了这一趋势。LSEG旗下理柏基金数据显示，今年流入欧洲股票基金资金超1000亿美元，是去年同期三倍，流出美国资金增加一倍多至近 870亿美元。德国央行数据显示，2025年前四个月，流入德国的外国直接投资增加一倍多至460亿欧元，德国企业有3个月从美国撤资，4月对外直 接投资余额为负23.8亿欧元。 不过，也有观点认为弃美转欧情绪可能快速转变。德国复兴信贷银行行长Stefan Wintels称应利用当前势头推进议程；私人股本公司Altor合伙人 Hajo Kroesche认为欧洲吸引资本的"机会之窗"有限；德意志银行首席执行官Christian Sewing表示，投资者虽对欧洲兴趣大，但仍需长期稳定形 势。（陈十一） ...

Core Viewpoint - Russia has formally requested consultations with the EU and WTO regarding the EU's Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (EU ETS), arguing that these measures are trade-restrictive and discriminatory under the guise of climate policy [1][5][9]. Group 1: CBAM and EU ETS Overview - The EU established the EU ETS in October 2003 to address "carbon leakage," which refers to the transfer of production to countries with less stringent emissions regulations [4]. - In May 2023, the EU passed regulations to establish CBAM, which aims to provide additional support measures for sectors at risk of carbon leakage [5][9]. Group 2: Russia's Concerns - Russia claims that the CBAM imposes complex and costly trade barriers on EU imports, creating significant uncertainty and unpredictability for operators [5][6]. - The application process for CBAM requires extensive documentation and proof of financial and operational capacity from importers, increasing compliance costs [6][8]. - Russia argues that the CBAM effectively acts as an additional "quasi-tariff" on imports from third countries, diverting financial resources from these countries' domestic climate change efforts [8][9]. Group 3: Economic Implications - The CBAM is expected to increase the trading costs of regulated goods significantly due to the administrative and compliance burdens imposed [6][9]. - The EU's CBAM currently applies to industries such as cement, steel, aluminum, fertilizers, electricity, and hydrogen, which are identified as having high carbon leakage risks [9]. - The EU estimates that these sectors will account for over 50% of emissions covered by the EU ETS once fully implemented, aiming to encourage production countries to reduce carbon emissions [9].

Core Viewpoint - Russia has reiterated its strong support for international efforts to combat climate change, but its recent request for consultations does not involve genuine environmental measures, rather it criticizes the EU's carbon border adjustment mechanism (CBAM) and emissions trading scheme (EU ETS) as trade-restrictive and discriminatory measures [1][8] Group 1: Russia's Position on CBAM - Russia has expressed concerns that the EU's CBAM and EU ETS are being packaged as climate measures while actually serving to enhance EU competitiveness and attract additional investments [1][6] - The CBAM is seen as creating significant trade barriers for covered goods imported into the EU, complicating and increasing the costs of compliance for operators [3][6] - Russia highlights that the EU's requirements for CBAM compliance involve extensive documentation and proof of financial and operational capacity, which adds to the administrative burden on importers [4][5] Group 2: Implications of CBAM - The mechanism requires authorized CBAM declarants to purchase and surrender a certain number of CBAM certificates, effectively imposing additional "quasi-tariff" costs on imports from third countries [7][8] - The EU's emissions trading system sets a cap on greenhouse gas emissions, with free allocation of allowances for sectors deemed at risk of carbon leakage, which Russia argues is unfairly based on export performance [7][8] - The CBAM currently applies to industries such as cement, steel, aluminum, fertilizers, electricity, and hydrogen, which are selected due to their high carbon leakage risk and emission intensity [8]