EU lawmakers voted last week by a wide margin (444-70, with 181 abstentions) to support development of a Carbon Border Adjustment Mechanism (CBAM) as part of the EU Green Deal. The CBAM (or carbon levy on imports) would initially apply to the most carbon-intensive industries, such as aluminum, cement, chemicals, and steel, starting in 2023. After that, it would begin to extend to other industrial products until they are covered by a carbon pollution price comparable to that imposed by the EU Emissions Trading System (EU-ETS).
EU Parliament votes for carbon border adjustments
EU Parliament votes for carbon border…
EU Parliament votes for carbon border adjustments
EU lawmakers voted last week by a wide margin (444-70, with 181 abstentions) to support development of a Carbon Border Adjustment Mechanism (CBAM) as part of the EU Green Deal. The CBAM (or carbon levy on imports) would initially apply to the most carbon-intensive industries, such as aluminum, cement, chemicals, and steel, starting in 2023. After that, it would begin to extend to other industrial products until they are covered by a carbon pollution price comparable to that imposed by the EU Emissions Trading System (EU-ETS).