The EU Proposal for a Carbon Border Adjustment Mechanism (CBAM) PDF Download
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Author: Ilaria Espa
Publisher:
ISBN:
Category : Carbon taxes
Languages : en
Pages : 0
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Book Description
This paper scrutinizes the European Union's proposal for a carbon border adjustment mechanism (CBAM) under the rules of the World Trade Organization (WTO) and climate change law. It first examines the logic behind the CBAM as a border carbon adjustment measure, having due regard to the complex interplay between its stated carbon leakage rationale and its fair competition mechanics. It then dissects the main anticipated features of the CBAM and discusses how they may fare under both WTO law and climate change law. Finally, it identifies the most critical proposed design elements from a legal perspective and discusses possible alternatives or variations that could better align the CBAM with its climate change purpose.
Author: Ilaria Espa
Publisher:
ISBN:
Category : Carbon taxes
Languages : en
Pages : 0
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Book Description
This paper scrutinizes the European Union's proposal for a carbon border adjustment mechanism (CBAM) under the rules of the World Trade Organization (WTO) and climate change law. It first examines the logic behind the CBAM as a border carbon adjustment measure, having due regard to the complex interplay between its stated carbon leakage rationale and its fair competition mechanics. It then dissects the main anticipated features of the CBAM and discusses how they may fare under both WTO law and climate change law. Finally, it identifies the most critical proposed design elements from a legal perspective and discusses possible alternatives or variations that could better align the CBAM with its climate change purpose.
Author: Jan Cernicky
Publisher:
ISBN: 9783957219435
Category :
Languages : en
Pages : 0
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Author: Soyoung Lim
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
On July 14, 2021, the European Commission announced its Fit for 55 package to reach the EU's climate target of cutting emissions by 55 percent by 2030. A Carbon Border Adjustment Mechanism (CBAM) legislative proposal was introduced as part of this package. The proposal describes the mechanism and scope of CBAM, emissions calculation methods, andexclusions.It follows the method by which Emissions Trading Schemes (ETS) operate for EU importers. During a transitional phase, imports must be accompanied by a mandatory reporting of carbon data. Starting in 2026, following the conclusion of a transitional period, importers will be required to buy certificates with carbon prices determined by the EU ETS.Through an examination of Korea's domestic ETS and an identification of the country's strengths, this analytical brief explores ways to minimize the potentially negative impacts of ETS on Korean industries.
Author: Youssef Belhaous
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In this research, our aim was to try to understand the true nature of the CBAM, proposed by the European Commission, from a WTO standpoint. With all the complexities surrounding the EU's domestic political ambitions, how its trading partners may react under the WTO, and how international law, particularly the Paris Climate Agreement, may come into play, etc.,What is the purpose of the legislation? How is it applied, and to whom is it addressed? And most importantly, under which provisions of the GATT could the CBAM be tackled and Analyzed, and is it GATT compliant? If not, is it a measure that could potentially be justified under the GATT? Under which provision could it be justified? Under which conditions? Will the CBAM really solve the issue? Or will it just make it worse? What solutions does the CBAM offer to which problems?
Author: Clara Brandi
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The European Commission unveiled the Carbon Border Adjustment Mechanism (CBAM) in July 2021 as part of its "Fit for 55" climate-policy package. The European Commission had announced this trade-policy instrument under the Green Deal in 2019 as a means of implementing more ambitious climate-policy goals without energy-intensive sectors transferring their emissions abroad (carbon leakage). The CBAM proposal envisages imposing a levy on imports in certain energy-intensive European sectors that is proportional to the carbon content of the goods concerned. The proposal complements the EU's existing Emissions Trading System by requiring importers of goods purchased from especially energy-intensive sectors (steel, cement, electricity, fertiliser and aluminium) abroad to purchase carbon certificates based on emissions data from abroad. CBAM is primarily designed to promote an ambitious climate policy for the EU. However, the EU's current proposal creates the impression that it is mainly about improving domestic competitiveness at the expense of climate-policy effectiveness and development prospects.The draft legislation must now be fleshed out in detail by the EU member states and the European Parliament. In addition to addressing climate-policy effectiveness and compatibility with WTO legislation, account must also be taken of the impact on European trading partners, and, in particular, poor developing countries. Many developing countries are expected to face additional export costs as a result of the CBAM. The EU should carefully evaluate the associated disadvantages for developing countries and work towards achieving a development-friendly design of the mechanism. Corresponding improvements should be made to the CBAM in the EU's legislative process going forward: The EU must ensure that the border adjustments do not have a detrimental impact on poor countries. Least developed countries (LDCs) should be exempted from the CBAM. The EU should provide targeted support to the developing countries affected by the mechanism, for instance, by building their capacity for implementing the CBAM and for reducing carbon emissions in the sectors concerned. The EU should assist low- and middle-income partner countries with the decarbonisation of their manufacturing industries. The EU should also recycle revenue from the CBAM by deploying it primarily for climate-policy purposes abroad. The affected countries should be involved to a greater extent in future through consultations and diplomatic dialogue in the process for further developing the mechanism.
Author: Giulia Claudia Leonelli
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The EU proposal for a carbon border adjustment mechanism ('CBAM') has triggered a lively academic and policy debate. In June 2022, the European Parliament put forward amendments regarding the potential introduction of export rebates under the EU Emission Trading System ('ETS') and the CBAM. This article focuses on this specific proposal, enquiring into the WTO law compatibility of ETS/CBAM export rebates. First, it enquires whether the 'pecuniary burden' associated with compliance with the CBAM would qualify as a 'charge' that is 'equivalent to an internal tax' and that is 'imposed consistently with Article III:2 GATT'. Second, it suggests that the 'pecuniary burden' associated with compliance with the ETS/CBAM is unlikely to qualify as an adjustable product tax; the analysis draws on a close examination of relevant provisions in the GATT 1994 and the Agreement on Subsidies and Countervailing Measures ('SCMA'). Finally, the article develops some brief considerations on the detrimental environmental effects of export rebates. As the article concludes, the regulatory design of the CBAM is not perfect; export rebates, however, would make this scheme considerably worse.
Author: Andrei Marcu
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
As part of the European Green Deal (EGD), the European Commission is currently elaborating a legislative proposal for a Carbon Border Adjustment Mechanism (CBAM) to prevent greenhouse gas emissions leakage and level the playing field between European and foreign emitters. This report brings together the main takeaways from the project 'Border Carbon Adjustments (BCAs) in the EU: Issues and Options' launched in November 2019 to provide analytical input and foster an informed debate with domestic and international stakeholders as the CBAM file progresses through the early stages of the legislative process.Drawing on extensive feedback obtained in a series of stakeholder consultations, the report offers a detailed analysis of the building blocks of BCAs as a policy option in the European context, discusses alternative policy options, and considers different combinations of policy instruments to achieve the desired outcomes.
Author: Ian W.H. Parry
Publisher: International Monetary Fund
ISBN: 1513594540
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
This Climate Note discusses the rationale, design, and impacts of border carbon adjustments (BCAs), charges on embodied carbon in imports potentially matched by rebates for embodied carbon in exports. Large disparities in carbon pricing between countries is raising concerns about competitiveness and emissions leakage, and BCAs are a potentially effective instrument for addressing such concerns. Design details are critical, however. For example, limiting coverage of the BCA to energy-intensive, trade-exposed industries facilitates administration, and initially benchmarking BCAs on domestic emissions intensities would help ease the transition for emissions-intensive trading partners. It is also important to consider how to apply BCAs across countries with different approaches to emissions mitigation. BCAs are challenging because they pose legal risks and may be at odds with the differentiated responsibilities of developing countries. Furthermore, BCAs provide only modest incentives for other large emitting countries to scale carbon pricing—an international carbon price floor would be far more effective in this regard.
Author: Anand Vemula
Publisher: Anand Vemula
ISBN:
Category : Architecture
Languages : en
Pages : 33
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Book Description
We are providing a comprehensive recap of the key concepts and techniques discussed throughout the book "Cross Border Adjustment Mechanism - CBAM for Iron and Steel Industry -Step by Step by Guide"- Whether you are a beginner or an experienced professional in the field of cross border adjustment mechanisms. Cross Border Adjustment Mechanism (CBAM) is a complex process that aims to ensure fair competition and avoid double taxation in international trade. It involves the adjustment of import and export prices to account for differences in taxes, subsidies, and other factors that can distort trade in Hydrogen Industry
Author: Gauthier Budo
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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