Comment on EU Carbon Border Adjustment Mechanism
Matt Williams is available for comment and interview.
By George Smeeton
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Commenting on the news that the European Council and the European Parliament have reached an agreement on a Carbon Border Adjustment Mechanism (CBAM) [1], Matt Williams, head of land programme at the Energy and Climate Intelligence Unit (ECIU) said:
"Gas-based fertilisers have shot up in price, leading to food security concerns and crippling prices for farmers across Europe, including the UK. This decision would lead the EU to turn the page on old high-carbon technology. But it could also encourage the UK to introduce its own carbon border taxes to keep pace. Such a move could see high-carbon imported products like fertilisers replaced by low-carbon alternatives made by British companies.
"Another sector covered by the EU's proposed taxes would be steel. After the EU, the US or other countries may follow suit. If more countries introduce carbon border taxes it could also spell problems for high-carbon British exports. This certainly casts a even darker shadow over the government’s bizarre decision to approve the Cumbria coal mine."