(CU)_ In July last year, the European Commission proposed the implementation of a Carbon Border Adjustment Mechanism (CBAM) on energy-intensive imports to the bloc. Under this scheme, the EU is set to impose a charge on imported products which generate greenhouse gas emissions but do not face a cost for it at home. In other words, businesses based in EU member states that import the goods would pay a price which is calculated based on what they would have paid if they were produced under the bloc’s own emissions trading scheme.
The Mechanism is aimed at…
