Rethinking Europe’s Carbon Border Adjustment Mechanism - EnviroNews - latest environment news, climate change, renewable energy

Council of the EU | Carbon border adjustment mechanism (CBAM): Council and Parliament strike a deal on its simplification | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources Carbon border adjustmen

The Council presidency and European Parliament’s negotiators reached a provisional agreement today on one of the proposals of the so-called ‘Omnibus I’ legislative package: a regulation, which simplifies and strengthens the EU’s carbon border adjustment mechanism (CBAM). The proposal seeks to provide simplification and cost-efficient compliance improvements to the CBAM regulation, without compromising its climate goals, as about 99% of embedded …

Rethinking Europe’s Carbon Border Adjustment Mechanism - EnviroNews - latest environment news, climate change, renewable energy

By applying a one-size-fits-all carbon-pricing regime to countries with vastly different capacities, the European Union’s Carbon Border Adjustment Mechanism undermines the principle of a just energy transition. To be effective, the CBAM must be more flexible and allow developing economies time to prepare and adapt Claver Gatete, Under-Secretary-General and Executive Secretary of the UN Economic Commission for Africa (ECA) As the climate crisis …