Analysts: Prove CBAMs aren’t trade protection, use revenues for climate goals

The European Union, as the first to implement a carbon border adjustment mechanism, should demonstrate that the tool is first and foremost a climate measure, not a trade protection measure, by directing revenues to climate mitigation and decarbonization efforts in developing economies, analysts said at the United Nations COP28 climate summit this week. Several countries are considering some form of CBAM, measures that apply fees to imported products based on carbon emissions to prevent companies from moving production processes abroad...