‘Protective’ border carbon tariffs gaining currency
EU edges closer to import duties based on carbon content amid concern about impact on international trade
Political discussion of Europe’s proposed Border Carbon Adjustment Mechanism (BCAM) has ramped up in recent weeks, well before any legislative proposal is expected to be published. The European Parliament last week urged the Commission to implement a BCAM by 2023. The UK too has proposed discussions on border carbon tariffs as part of this week’s meeting of G7 leaders while, most recently, Japan’s government revealed it is considering introducing a carbon border tax. The debate has been given renewed impetus by the election of Joe Biden to the US presidency, with a mandate to renew his country’s commitment to climate action. Biden’s hawkish stance on climate issues improve the outlook for a
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology