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Cooperation on Border Carbon Adjustments
October 18 @ 14:00 - 16:00
The European Commission has put forward a proposal for a Carbon Border Adjustment Mechanism (CBAM) – an enabler of ambitious climate policy in a world of unequal ambition. As other countries respond to the climate crisis, we can expect to see them follow suit. Indeed, the UK has pledged to put a CBAM in place, the US has seen a slew of legislative proposals (including the most recent which does not demand a carbon price), and Canada has just announced formal consultations on a border carbon adjustment (BCA).
Ideally there would be international coordination of these emerging policies; they have high-stakes implications for international trade, international equity, climate diplomacy. Some have suggested that BCAs could be an essential element of “climate clubs”, acting both as a common tariff-like wall, and as incentive to join. Others have called for international agreement on principles and best practice.
This session, convened by ERCST on the basis of its extensive work on the EU CBAM, will bring together global thought leaders that have explored this critical aspect of CBAM/BCA, unpacking the proposals and considering the options.
ERCST’s project on border carbon adjustment is supported by BDI, CEFIC, EBRD, Enel, Eurofer, Eurometaux, Fertilizers Europe, FuelsEurope, HeidelbergCement, the Government of France, the Government of Germany, the Government of Spain, Metinvest, Solvay and SITRA.