2023 EU launches Carbon Border Adjustment Mechanism (CBAM) to impose tariffs on imports from countries without matching carbon pricing.
The European Union's Carbon Border Adjustment Mechanism (CBAM), launched in 2023, requires importers to report on the emissions of goods they bring in. From 2026, the EU will impose tariffs on imports from countries without matching carbon pricing, potentially influencing global climate efforts. This new carbon-pricing regime could be a crucial tool in achieving the Paris climate agreement's emissions reduction goals.
May 28, 2024
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