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European nations endorse plan to impose carbon imports levy

EU member states support a bill to apply carbon taxation to imports on a series of products like steel and concrete coming from countries with more lenient environmental policies as the continent works to achieve its climate objectives.

Photo: Vincent Kessler/Reuters/Ritzau Scanpix

European Union governments backed a proposal that would slap an import levy on iron and steel, cement and aluminum produced in countries with lower environmental standards as the bloc seeks to shield domestic producers during an ambitious green overhaul.

EU finance ministers decided on Tuesday on their negotiating stance for talks with the European Parliament about the so-called carbon border adjustment mechanism. Proposed by the European Commission in July as part of a massive green overhaul, CBAM would impose a penalty for bringing into the bloc emissions embedded in goods that also include fertilizers and electricity.

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