Climate Economy

The EU sets out to slay the carbon leakage dragons   

The European Union is the first to announce plans for a carbon border adjustment. Can it level the playing field and speed global climate action? In mid-July, the European Commission released its detailed proposal for a Carbon Border Adjustment Mechanism, the EU CBAM, which would impose a charge on emissions-intensive goods imported into Europe. The proposal seeks to tackle what is referred to as “carbon leakage” and enable carbon pricing to operate more effectively across the economy. It is expected to be adopted by the European Parliament and Council without…

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