On May 17, 2023, the European Union enacted the Carbon Border Adjustment Mechanism – a regulation that seeks to tackle ‘carbon leakage’ by imposing a carbon price on certain imported goods to reflect the levels of greenhouse gas emissions embedded into the production of those goods. Separately, on March 30, 2023, the UK government published a consultation paper on policies to address ‘carbon leakage’, which includes proposals for a UK CBAM. This memo outlines key considerations under Carbon Border Adjustment Mechanisms for companies and investors along the value chains of relevant imported goods.
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