EU climate policy

Here’s a New Acronym: CBAM. You’re Going to be Seeing It a Lot.

European Union flag

The EU has taken a major step to pressure global industries to clean up their act.

In December, the EU provisionally adopted a carbon tariff on imports. The official name is the Carbon Border Adjustment Mechanism, or CBAM for short. The purpose of the mechanism is that EU companies, unlike many in other countries, have to pay a price for the carbon emitted in manufacturing. They need a border adjustment to …

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