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Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions
LEAKAGE CONCERNS
Fears that industry could move out of Europe to countries with less strict emissions reduction regulations have been voiced ever since the EU introduced its Emissions Trading System 15 years ago. The EU is now examining how it can introduce a carbon border tax and use trade as a means to push climate action around the world
OPPOSITE EFFECT
There is a danger the EU’s efforts could backfire and do more harm than good in terms of climate action
KEY QUOTE
“There is no point in only reducing greenhouse gas emissions at home, if we increase the import of carbon dioxide from abroad” ...
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