CBAM revenue to fund climate?

The European Union’s planned Carbon Border Adjustment Mechanism (CBAM) is causing uncertainty around the globe and is keeping the EU delegation at the Climate Change Conference (COP26) in Glasgow busy. However, it is a positive signal that emissions trading and CBAM are being discussed at all, Peter Liese, co-negotiator of the EU Parliament told Europe.Table. After all, the discussion about the planned border adjustment had already shown first effects – including Turkey’s ratification of the Paris climate agreement. However, the CDU MEP admits: „The instrument is not yet perfect.“