Nearly 70 fashion and textile organizations, including big names like H&M Group and Zalando, are urging governments in the EU, US, and Canada to implement policy changes to incentivize circular fashion business models. The Ellen MacArthur Foundation report shows that targeted changes could significantly increase profit margins for resale and repair, with the goal of making circular fashion more economically viable and accessible to consumers. The statement calls for reduced VAT, lower labor taxes, and Extended Producer Responsibility to fund infrastructure for collecting and sorting clothing at scale. The foundation aims to accelerate the transition to a circular economy by 2030 in the areas of fashion and textiles, critical minerals, and plastics and packaging, ultimately reducing the environmental impact of the fashion industry.
Tag: EU
-
Taxing Fossil Fuel Profits
A new study recommends implementing profit-based taxes on fossil fuel companies in the EU to finance the energy transition, protect consumers, and support energy savings and electrification. The goal is to redirect capital towards clean energy, strengthen Europe's energy security, and achieve climate goals. Measures include introducing a differentiated corporate tax framework, extending taxation of windfall profits, and establishing an EU-level methodology to monitor price pass-through. Additionally, there is a focus on protecting workers in the fossil fuel sector and recycling revenues from fossil fuel profit taxes into the energy transition to discourage further fossil fuel expansion and promote the transition to clean energy.
https://cleantechnica.com/2026/02/20/taxing-fossil-fuel-profits/