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EU carbon border tax to target imports from 2026
The EU expects the carbon border tax will bring in nearly €10bn a year (Photo: European Commission)
Brussels, Today, 07:21
The European Commission has presented the world s first-ever import levy on certain goods produced in third countries with lower environmental standards - part of the effort to reduce emissions under its massive Fit-for-55 package.
The levy - officially known as the Carbon Border Adjustment Mechanism (CBAM) - aims to accelerate global climate action and, at the same time, prevent businesses from transferring production to non-EU countries with less strict climate rules - dubbed carbon leakage .
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