A European Union plan to impose tariffs on high-carbon imports could hurt developing countries in Asia but is unlikely to lead to big reductions in greenhouse gas emissions, the Asian Development Bank said in a report published on Monday. The Carbon Border Adjustment Mechanism was introduced to address concerns that the outsourcing of manufacturing had put large parts of the …
The story so far: On May 10, co-legislators at the European Commission signed the Carbon Border Adjustment Mechanism. It has been described as a “landmark tool” to put a “fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries.” The reporting system under …
