carbon tariff

A carbon tariff or carbon border adjustment mechanism (CBAM) is an eco-tariff on embedded carbon.{{Cite web |title=What is a Carbon Border Adjustment Mechanism? |url=https://www.brookings.edu/articles/what-is-a-carbon-border-adjustment-mechanism/#:~:text=A%20Carbon%20Border%20Adjustment%20Mechanism%20(CBAM)%20(also%20known%20as,gases%20emitted%20during%20their%20production. |access-date=2024-11-13 |website=Brookings |language=en-US}} In 2024 the United States said it is not a carbon tax,{{Cite web |title=What is a carbon border adjustment mechanism (CBAM) and what are some legislative proposals to make one? |url=https://www.jec.senate.gov/public/index.cfm/democrats/2024/2/what-is-a-carbon-border-adjustment-mechanism-cbam-and-what-are-some-legislative-proposals-to-make-one |access-date=2024-11-13 |website=United States Congressional Joint Economic Committee |language=en}} but the World Trade Organization has not come to a conclusion.{{Cite web |last=Porterfield |first=Matthew C. |title=Carbon Import Fees and the WTO |url=https://clcouncil.org/reports/Carbon_Import_Fees_and_the_WTO.pdf}} One aim to prevent carbon leakage from nations without a carbon price. Examples of imports which are high-carbon and so may be subject to a carbon tariff are electricity generated by coal-fired power stations, iron and steel from blast furnaces, and fertilizer from the Haber process. Several countries levy carbon tariffs or are considering them.{{Cite web |title=EU's CBAM to spur other countries to introduce carbon border levies: IETA |url=https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/041824-eus-cbam-to-spur-other-countries-to-introduce-carbon-border-levies-ieta}}