The EU just kicked off its biggest climate experiment yet. The world’s largest single market has launched a bold plan to tax carbon at its borders.
On 1 October, the EU kicked off the initial phase of a Europe-wide tax on carbon in imported goods, the Carbon Border Adjustment Mechanism (CBAM).
It marks the first time a carbon border tax has been tried at this scale anywhere in the world.
The rest of the world is paying very close attention.
@TheEuropeanNetwork Very exciting stuff!