CARBON BORDER ADJUSTMENT MECHANISM

Controversy Abounds Over EU Carbon Border Levy Proposal

28 September 2021

Although the European Commission maintains that its proposal for an EU Carbon Border Adjustment Mechanism (“CBAM”) is instrumental to achieving EU climate goals, without compromising the competitiveness of European industries, it has been reported that key trading partners are highly critical of the scheme. European industries and climate campaigners have also expressed some scepticism. More

hktdc research

EU Introduces Carbon Border Levy Proposal

26 July 2021

The European Commission has presented its proposed Regulation for an EU Carbon Border Adjustment Mechanism (“CBAM”). The CBAM proposal forms part of the EU’s Fit for 55 Package which aims to set out a clear path towards achieving the EU’s ambitious target of a 55% reduction in carbon emissions (compared to 1990 levels) by 2030, with the aim of becoming a climate-neutral continent by 2050. More