EU and US Carbon Import Tax Proposals: What Cos. must know

By Warren Maruyama, Lourdes Catrain and Stefan Schroeder (December 6, 2021, 3:43 p.m. EST) – On July 14, the European Commission presented its first formal proposal to establish a Carbon Frontier Adjustment Mechanism, or CBAM, for emissions EU Trading System, or ETS.[1] The proposal is part of the EU’s Green Deal and aims to promote the Green Deal target of reducing the EU’s greenhouse gas emissions by 55% from 1990 levels by 2030.

Parts of the CBAM proposal are expected to enter into force on January 1, 2023. The proposal is a top priority for European Commission President Ursula von der Leyen and EU institutions.

Meanwhile, similar carbon import tax regimes are starting to emerge …

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