EU member states announced on Tuesday the adoption of a mechanism that would bring the bloc’s industrial imports under environmental standards by charging for the carbon emissions linked to their production.
Known as the “Carbon Border Adjustment Mechanism” (CBAM), the agreement will cover industrial imports from the regional bloc’s 27 member states, targeting the highest polluting products first.
“CBAM will be a crucial pillar of European climate policies,” said Mohammed Chahim, a member of the European Parliament from the Netherlands, in a statement released by the parliament.—AFP
