Carbon Border Adjustment Mechanism and Court of Justice of the European Union: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
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''Environmental policy - European Union - regulation.''  
''European Union law''.


(CBAM).
(CJEU).


The Carbon Border Adjustment Mechanism is an EU Regulation, phased in over the period 2023 to 2026.
The Court of Justice of the European Union interprets EU law to make sure it is applied in the same way in all EU countries, and settles legal disputes between national governments and EU institutions.


It is designed to address the problem of ''carbon leakage'' out of the EU and into other countries.
It can also, in certain circumstances, be used by individuals, companies or other organisations to take action against an EU institution, if they feel it has infringed their legal rights.


Carbon leakage is the risk that greenhouse gas (GHG) emissions may increase in other countries, as a consequence of reductions within the EU.
The CJEU consists of:
 
*The Court of Justice (also known as the European Court of Justice) and
 
*The General Court.
The mechanism of the CBAM is a charge on goods imported into the EU, that have excessive levels of embedded carbon.
 
Embedded carbon is a measure of the GHG emissions released during the production of goods in those other countries.
 
 
Importers need to buy and surrender CBAM certificates for each tonne of CO<sub>2</sub> - or equivalent GHG emissions.
 
The price of CBAM certificates is the same as the price of the equivalent EU Emissions Trading System (EU ETS) allowances.
 
 
The Carbon Border Adjustment Mechanism is sometimes known as the EU's ''carbon border tax''.




== See also ==
== See also ==
* [[Carbon credits]]
* [[Brexit]]
* [[Carbon footprint]]
* [[European Union]]
* [[Carbon leakage]]
* [[euro zone]]
* [[Carbon-neutral]]
* [[European Commission]]
* [[Carbon tax]]
* [[European Council]]
* [[Carbon Trust]]
* [[European Court of Justice]]
* [[Corporate social responsibility]]
* [[European Economic Area]]
* [[Decarbonise]]
* [[European Parliament]]
* [[Embedded carbon]]
* [[General Court]]
* [[Environmental profit and loss]]
* [[Footprint]]
* [[International Institute for Sustainable Development]]
* [[Regulation]]
* [[Renewables]]
* [[Streamlined Energy and Carbon Reporting]]
* [[World Trade Organization]] (WTO)
 
 
==External links==
*[https://ec.europa.eu/taxation_customs/green-taxation-0/carbon-border-adjustment-mechanism_en Carbon Border Adjustment Mechanism - European Commission]
*[https://www.globalpolicywatch.com/2021/06/twelve-things-to-know-about-the-upcoming-eu-carbon-border-adjustment-mechanism/ The upcoming EU Carbon Border Adjustment Mechanism - Covington Global Policy Watch]
*[https://sdg.iisd.org/commentary/guest-articles/an-eu-carbon-border-adjustment-mechanism-can-it-make-global-trade-greener-while-respecting-wto-rules/ Can an EU CBAM make global trade greener while respecting WTO rules? - International Institute for Sustainable Development]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]
[[Category:Technology]]
[[Category:Trade_finance]]

Latest revision as of 10:40, 1 November 2021

European Union law.

(CJEU).

The Court of Justice of the European Union interprets EU law to make sure it is applied in the same way in all EU countries, and settles legal disputes between national governments and EU institutions.

It can also, in certain circumstances, be used by individuals, companies or other organisations to take action against an EU institution, if they feel it has infringed their legal rights.

The CJEU consists of:

  • The Court of Justice (also known as the European Court of Justice) and
  • The General Court.


See also

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