CBAM. How do we ensure that we cut emissions, not move them? - online event

On April 26, the CEPI Secretariat attended the Euractiv online event "CBAM - How do we ensure that we cut emissions - not move them?"

The online event, supported by Yara International, aimed at exploring the pros and cons of the recently adopted European Commission's proposal for a Carbon Border Adjustment Mechanism (CBAM), as well as the many challenges this proposal carries with it.

CBAM is a climate instrument launched in the framework of the EU Green Deal and which should prevent the risk of carbon leakage and support the EU's increased ambition on climate mitigation while also ensuring WTO compatibility.

 Initially, CBAM will be implemented in the following high-risk carbon leakage/emissions sectors: cement, iron and steel, aluminium, fertilisers, and electricity.

 The proposal, adopted last summer, is now in its first reading phase in the EU ordinary legislative procedure. The European Parliament, led by the ITRE Committee, is currently debating this important proposal, while the Council has already issued its opinion and international talks with third countries are ongoing.

 Speakers of the event, moderated by Mr Dave Keating (Euractiv), included: Mr Pasquale De Micco, Economic and Legal Analysis of Indirect Taxation (DG TAXUD) - European Commission, MEP Ms Maria Spyraki, Co-Chair of the European Parliament Intergroup on Climate Change, Biodiversity and Sustainable Development - European Parliament, Ms Aylin Shawkat, Project Manager Industry - Agora Energiewende, Mr  Benjamin Denis, Senior Policy Adviser – IndustriAll, and Mr Luc Haustermans, Head of EU Public Affairs and Industry Relations - Yara International.

 To access the recording of the event, please visit here. To know more about the CBAM proposal, please click here.