Bright Blue responds to the Government’s announcement that they are launching a consultation on a UK Carbon Border Adjustment Mechanism.
Bartek Staniszewski, Researcher, commented:
“As we target net zero, it is imperative that our domestic industries remain competitive against their more carbon-intensive, foreign competitors, and that foreign industries do not use this as an opportunity to increase their own emissions and undermine our own net zero efforts.
A Carbon Border Adjustment Mechanism (CBAM) will penalise imports that seek to undercut our domestic production and send out a strong signal that carbon-intensive industries will find it difficult to conduct business in the UK.
However, trade barriers are a regrettable cost. A CBAM should be coupled with free trade agreements with countries that adopt a similar commitment to lower emissions”
Bright Blue recently called for a UK Carbon Border Adjustment Mechanism in our reports Green money and Carbonless crucible.
