Euronews: “EU’s Carbon Border Tax on Heavy Industry Goods Goes into Effect, Risking Trade Escalation”
RFF Fellow Milan Elkerbout comments on the European Union’s new carbon border adjustment mechanism in the video accompanying this article.
“So what the [carbon border adjustment mechanism (CBAM)] does is apply average carbon prices paid by the European Union through the Emissions Trading System. The importers will then need to buy CBAM certificates at a similar price to cover their emissions. And that [re-sorts] the playing field between the importers and the European producers.”
—Milan Elkerbout, Fellow and Director of RFF’s International Climate Policy Initiative
