In June the European Commission proposed a climate border adjustment mechanism (CBAM) as part of its extensive climate package “Fit for 55”. CBAM would gradually impose a levy on imports into the EU based on their CO2 content from 2023, thus addressing the issue of EU-companies in energy-intensive sectors shifting their production abroad (carbon leakage).
But the EU has been met with criticism claiming that CBAM is not climate policy and not WTO compatible, but instead also a tool to improve the competitiveness of EU industries or fill EU coffers in times where EU member states find it hard to agree on the bill for the green transformation of the economy.
Which EU countries will fight for CBAM and why? What is the reaction from the EU’s trading partners? And can the EU – with CBAM - position itself as a global leader in climate policy in the run-up to the COP26?
The webinar will look at these questions in exploring the avenues for a successful CBAM.
Lykke Friis, director of Think Tank Europa is moderator