Is the EU realizing an externally just green transition? A short analysis of the Carbon Border Adjustment Mechanism from the perspective of the CBDR principle and the right to development of LDCs.
Author: Jakub Bednarek
The EU is on track to adopting by the end of this year the regulation establishing the Carbon Border Adjustment Mechanism (“CBAM”) with the trialogues (informal negotiations between the European Parliament and the Council, involving the Commission, during which a common approach to a legal act is agreed, based on amendments proposed by both co-legislators) currently taking place . In brief, the CBAM will impose on certain imported products (cement, iron and steel, aluminum, fertilizers, electricity) a carbon price that will mirror the price of CO2 allowances in the EU’s Emission Trading System (EU ETS). In theory, the equalization of…