www.theguardian.com/business/2022/dec/13/eu-becomes-first-leading-economy-to-legislate-for-green-tariff-on-imports
In the early hours of Tuesday morning the EU became the first big economy to legislate for a “green tariff” on imports, to be levied on goods that are produced with high carbon dioxide emissions.
The carbon border adjustment mechanism (CBAM) means that countries which fail to green their industries will soon face a new threat: an effective carbon tax that will penalise those hoping to profit from high-carbon activities, and force them to clean up.
The system will be applied at first to iron and steel, cement, fertilisers, aluminium, electricity, hydrogen and some chemicals.
Jozef Síkela, minister of industry and trade of the Czech Republic, who led the negotiations in the EU parliament, said: “The carbon border adjustment mechanism is a key part of our climate action. This mechanism promotes the import of goods by non-EU businesses into the EU which fulfil the high climate standards applicable in the 27 EU
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