Climate Politics
Europe Reaches Historic Deal to Put Pollution Price on Imports
- Carbon border levy to shield EU industry during green shift
- EU emissions measure comes amid rising global trade tensions
Smoke and exhaust rise from a large industrial complex surrounding Liuzhou Iron & Steel Co.'s facility in Liuzhou, China, on Monday, May 17, 2021.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
European Union policy makers reached a landmark deal to slap an emissions levy on some imports, in an attempt to ensure the bloc’s green overhaul doesn’t leave its industries at a disadvantage.
After hours of late-night negotiations, EU governments and the European Parliament thrashed out key details of the so-called Carbon Border Adjustment Mechanism. The idea is that carbon-intensive industries forced to comply with Europe’s world-leading climate laws won’t face unfair competition from producers operating in countries with weaker rules.