Mitigating carbon leakage - how the new carbon borders will change the game for high carbon exports

While Australian firms may not initially be directly impacted by these announcements, the EU reform package adds to existing arguments to prepare for a new low-carbon world, writes Barry Sterland.

Ahead of the global climate summit in Glasgow, the European Commission tabled far‑reaching and innovative carbon reforms aimed at meeting its goal of reducing European Union (EU) emissions by 55 percent as early as 2030. A new carbon border adjustment mechanism and stronger targets, together with greater sectoral coverage of the EU emissions trading scheme, are at the centre of the reforms. Once passed, they could significantly impact both EU industry and are already setting a new precedent...

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Authors: Barry Sterland

Published Date: 27 July 2021