How Carbon Border Adjustments Might Drive Global Climate Policy Momentum

Kimberly Clausing, Milan Elkerbout, Katarina Nehrkorn and Catherine Wolfram
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Milan Elkerbout: Resources for the Future
Katarina Nehrkorn: Resources for the Future
Catherine Wolfram: Resources for the Future

No 24-20, RFF Reports from Resources for the Future

Abstract: The introduction of the European Union carbon border adjustment mechanism (CBAM) creates an important incentive for other countries to adopt carbon pricing. The authors examine this policy spillover effect, finding that countries throughout the world have increased their use of carbon pricing regimes as well as their interest in both carbon pricing and decarbonization, especially in the period since the EU focused on this policy tool. If more countries, including the United States, consider border adjustment regimes, this can strengthen such policy spillover effects. However, care should be taken to address the needs of lower-income economies and to avoid disguised protectionism.

Date: 2024-10-10
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