Australia considers carbon border tax to protect local industries and combat climate change.
Australia's review on preventing 'carbon leakage' suggests adopting a carbon border adjustment mechanism (CBAM). This would apply levies on carbon-intensive imports from countries without strict climate policies, aiding local industries like cement, steel, and ammonia production. The European Union and Britain are also considering similar measures, prompting Australia to explore this option to ensure competitiveness and reduce emissions.
3 months ago
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