Britain’s CBAM levies will apply to imports from high-carbon and hard-to-abate sectors including steel and aluminium, cement and ceramics. Additional products may be added to the scope of the CBAM following additional consultations in 2024. The Treasury is set to apply the levy on a sliding scale. Charges applied will depend on the greenhouse gas …
A quarter of global emissions are now covered, and the share is rising fast
IF GLOBAL WARMING is to be limited, the world must forget about fossil fuels as fast as possible. Economists have long favoured putting a price on carbon, a mechanism that Europe introduced in 2005. Doing so allows the market to …
Starting on Sunday, importers in the EU must report specific emissions data associated with the production of iron and steel, aluminum, cement, fertilizers, hydrogen, and electricity imported into the EU. Beginning in 2026, importers will be required to pay a fee on those emissions. This is like our PROVE IT Act, collecting data on the carbon intensity differences between imports and exports.
Editors Note: Indonesia passed a carbon tax in 2021, but is delaying implementation for fear of becoming uncompetitive. This article reports on the push and pull within the country. If the US were to add a CBAM, it would make it easier for carbon pricing regimes in Indonesia (a major petroleum producer) to activate its carbon tax.
Note: CCL’s Jonathan Marshall summarizes the latest worldwide data on carbon pricing, per the World Bank, in a succinct essay and 3 key charts.
As we seek inspiration and validation of our support for national carbon pricing in the United States, many of us look for signs of growing adoption abroad. A new World Bank publication on the
Per the influential Foreign Affairs magazine:
For decades, scientists and economists have concluded that pricing carbon is critical to reducing global carbon-dioxide emissions. Yet most politicians overlook or even fear carbon pricing.
…. The need for a global agreement on carbon pricing can no longer be postponed: without a global carbon-pricing agreement, no serious plan to tackle climate change can be made. . ..
Gresham’s Law says that bad money drives out good. If you have two coins with a face value of $1, you will spend the bad one that contains 25 cents’ worth of metal and stash away the good one that contains $1 worth of metal.
Something like Gresham’s Law is at work in the carbon offset market, which was set up to fight climate change. Bad carbon credits are driving out good carbon credits.
(from Nerd Corner) Nearly a quarter of global carbon dioxide emissions are now covered by carbon pricing systems, up from just 7% a decade ago, according to the World Bank’s new annual survey, State and Trends…
Do you have an opinion on a specific policy that would be most efficient and equitable for reducing emissions?
Answer: Any economist would answer that question by saying some sort of pricing mechanism would be most efficient. Whether it’s equitable depends on design — it can be regressive or progressive …
Sens. Coons, Cramer unveil bill to lay the groundwork for a carbon border tax In a rare example of a bipartisan climate policy, momentum is growing on Capitol Hill for a plan to tax imports…
CCL has released a short, simple, easy way for community leaders to endorse carbon fee and dividend. Just ask them to visit CCLUSA.org/endorse and add their name. Here’s a two-minute video showing you how.
Over last weekend, G7 climate, energy, and environment ministers released a negotiated statement, which emphasized member countries’ commitment to advancing climate and trade policies. Highlights from the communiqué include: The “crucial role” of carbon pricing and…
