imported>Doug Williamson |
imported>Doug Williamson |
Line 1: |
Line 1: |
| ''Environmental policy - European Union - regulation.''
| | An updated Markets in Financial Instruments Directive ([[MiFID]]). |
|
| |
|
| (CBAM).
| |
|
| |
|
| The Carbon Border Adjustment Mechanism is an EU Regulation, phased in over the period 2023 to 2026.
| | ==See also== |
| | * [[Regulated market]] |
| | * [[Multilateral trading facility]] |
| | * [[Systematic internaliser]] |
| | * [[MiFID]] |
| | * [[EMIR]] |
|
| |
|
| It is designed to address the problem of ''carbon leakage'' out of the EU and into other countries.
| |
|
| |
|
| Carbon leakage is the risk that greenhouse gas (GHG) emissions may increase in other countries, as a consequence of reductions within the EU.
| | ===Other links=== |
| | [http://www.treasurers.org/node/10350: ACT responds to ESMA on MiFID implementation] |
|
| |
|
|
| |
| 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 ==
| |
| * [[Carbon credits]]
| |
| * [[Carbon footprint]]
| |
| * [[Carbon leakage]]
| |
| * [[Carbon-neutral]]
| |
| * [[Carbon tax]]
| |
| * [[Carbon Trust]]
| |
| * [[Corporate social responsibility]]
| |
| * [[Decarbonise]]
| |
| * [[Embedded carbon]]
| |
| * [[Environmental profit and loss]]
| |
| * [[Footprint]]
| |
| * [[International Institute for Sustainable Development]]
| |
| * [[Regulation]]
| |
| * [[Renewables]]
| |
| * [[Streamlined Energy and Carbon Reporting]]
| |
| * [[UK CBAM]]
| |
| * [[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:The_business_context]]
| |
| [[Category:Compliance_and_audit]] | | [[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]]
| |