The Green Tank co-signs a joint statement of NGOs and think tanks proposing a combined EU policy for the Carbon Border Adjustment Mechanism (CBAM) and EU Emissions Trade System (EU ETS) so as not to undermine the integrity and ambition of the Fit for 55 package.
In light of ECOFIN’s meeting (15 March 2022) aiming at agreeing on a “general approach” for CBAM which, however, would not address important issues linked to the EU ETS, the organizations stress that these climate policy tools should be considered in an integrated manner. Advocating for a fair and effective CBAM, the joint statement calls for:
- Consideration of CBAM as a key piece of the Fit for 55 package to be discussed in conjunction with EU ETS and not in isolation in order to achieve the 2030 climate target.
- Ensuring that CBAM is only implemented as an alternative to current carbon leakage protection measures for the covered CBAM sectors such as free emission allowances and indirect cost compensation.
Read the full joint statement here:
The Carbon Border Adjustment Mechanism (CBAM) must be linked to the EU ETS discussions so as not to undermine the integrity and ambition of the Fit for 55 package