imported>Doug Williamson |
imported>Doug Williamson |
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| ''Environmental policy - European Union - regulation.'' | | 1. ''Company law - directors.'' |
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| (CBAM).
| | The fundamental fiduciary duty of company directors, to safeguard and administer the property belonging to a company, on behalf of its shareholders. |
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| The Carbon Border Adjustment Mechanism is a draft EU Regulation.
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| It is designed to address the problem of ''carbon leakage'' out of the EU and into other countries.
| | 2. ''Trustees - other contexts.'' |
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| Carbon leakage is the risk that greenhouse gas (GHG) emissions may increase in other countries, as a consequence of reductions within the EU.
| | Similar duties of trustees and other fiduciaries, in relation to those on whose behalf they are acting. |
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| The mechanism of the CBAM would be a charge on goods imported to the EU, that had excessive levels of embedded carbon.
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| Embedded carbon is a measure of the GHG emissions released during the production of goods in those other countries.
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| Importers would need to buy and surrender CBAM certificates for each tonne of CO<sub>2</sub> - or equivalent GHG emissions.
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| The price of CBAM certificates would be the same as the price of the equivalent EU Emissions Trading System (EU ETS) allowances.
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| == See also == | | == See also == |
| * [[Carbon credits]] | | * [[Accountability]] |
| * [[Carbon footprint]] | | * [[Accounting records]] |
| * [[Carbon leakage]] | | * [[Audit trail]] |
| * [[Carbon-neutral]] | | * [[Director]] |
| * [[Carbon tax]] | | * [[Fiduciary duty]] |
| * [[Carbon Trust]] | | * [[Prosperity through Stewardship]] |
| * [[Corporate social responsibility]] | | * [[Shareholder]] |
| * [[Decarbonise]] | | * [[Variance analysis]] |
| * [[Embedded carbon]] | | * [[Trustees]] |
| * [[Environmental profit and loss]] | | * [[UK Stewardship Code]] |
| * [[Footprint]]
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| * [[International Institute for Sustainable Development]]
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| * [[Regulation]]
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| * [[Renewables]]
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| * [[Streamlined Energy and Carbon Reporting]]
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| * [[World Trade Organisation]] (WTO)
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| ==External links==
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| *[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]
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| *[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]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:The_business_context]]
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| [[Category:Compliance_and_audit]] | | [[Category:Compliance_and_audit]] |
| [[Category:Ethics]]
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| [[Category:Identify_and_assess_risks]]
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| [[Category:Manage_risks]]
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| [[Category:Risk_frameworks]]
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| [[Category:Risk_reporting]]
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| [[Category:Financial_products_and_markets]]
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| [[Category:Technology]]
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| [[Category:Trade_finance]]
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