Tatiana Prazeres, associate professor at the Peking University, said about the European carbon tax, also known as the carbon border adjustment mechanism (CBAM):
“In the universe of initiatives already adopted to combat climate change, this is, by far, the measure with the greatest commercial impact on third countries. This is the motivation presented by Europeans: companies have chosen to produce in countries with more lax environmental requirements and then export to the bloc. In addition to causing unfair competition, the practice — also known as carbon leakage — undermines efforts to reduce CO₂ globally.
Here’s what annoys the rest of the world: here are the Europeans again saying how everyone else should behave. If they don’t follow the European rules, they will pay more to access the bloc’s market.”
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