Understanding the Carbon Border Adjustment Mechanism
The Europe Desk
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Navigating the Carbon Border Adjustment Mechanism
This chapter explores the implications of the Carbon Border Adjustment Mechanism (CBAM) within the EU's Fit for 55 initiative, detailing the potential rise in production costs and the strategic plans of the European Green Deal. It addresses the ongoing negotiations in the European Parliament, the need for democratic processes, and the importance of international collaboration for effective climate diplomacy. Additionally, the chapter highlights the challenges and opportunities in transitioning to a more sustainable industry and the political responsibility required to support job creation in a changing economy.
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Transcript
