UK Government announces CBAM consultation

There is potential for significant impacts on UK importers of carbon intensive products, writes KPMG UK's Carol Newham.

The United Kingdom (UK) Government announced a new consultation to address “carbon leakage risk to support decarbonisation.” ‘Carbon leakage’ – broadly means, the risk that businesses will shift their carbon intensive activities offshore – can significantly undermine domestic efforts to decarbonise. This consultation aims to mitigate this risk by seeking views on a range of proposed policy measures to tackle carbon leakage, including the introduction of a UK Carbon Border Adjustment Mechani...

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Published Date: 21 April 2023