![]() As indicated in the Communication ‘Should differences in levels of ambition worldwide persist, as the EU increases its climate ambition, the Commission will propose a carbon border adjustment mechanism, for selected sectors, to reduce the risk of carbon leakage. The Commission announced its intention to propose a CBAM in the European Green Deal. The Commission also announced in its EU Action Plan: Towards Zero Pollution for Air, Water and Soil 10 the promotion of relevant instruments and incentives to better implement the polluter pays principle 11 and thus complete the phasing out of ‘pollution for free’ with a view to maximising synergies between decarbonisation and the zero pollution ambition. The European Parliament adopted in March 2021 a resolution advocating for the introduction of a WTO-compatible carbon border adjustment mechanism 9. A carbon border adjustment mechanism (‘CBAM’), announced in the European Green Deal, is part of that package and will serve as an essential element of the EU toolbox to meet the objective of a climate-neutral EU by 2050 in line with the Paris Agreement by addressing risks of carbon leakage as a result of the increased Union climate ambition. To deliver on these GHG emissions reductions in line with the European Climate Law, the Commission proposes to revise where necessary all relevant policy instruments by July 2021 in a ‘Fit for 55 Package’, which covers in particular the review of sectoral legislation in the fields of climate, energy, transport, and taxation 8. The European Climate Law, as agreed with the co-legislators, sets the new 2030 target while making the EU’s climate neutrality objective legally binding 7. This objective has been endorsed by the European Council 5 and communicated to the United Nations Framework Convention on Climate Change making it internationally binding 6. Furthermore, as announced in the European Green Deal 2, the Commission has proposed a new EU target for 2030 of reducing greenhouse gas (‘GHG’) emissions by at least 55 per cent compared to levels in 1990 3, based on a comprehensive impact assessment 4. This process is already projected to start under the existing EU legislation. To meet the objective of a climate-neutral EU by 2050 in line with the Paris Agreement, the Union needs to increase its ambition for the coming decade and update its climate and energy policy framework. The European Union’s international leadership must go hand in hand with bold domestic action. ![]() Strong international cooperation will strengthen the joint climate action needed by all the Parties of the Paris Agreement to meet the goal of holding the increase in the global average temperature to well below 2☌ above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5☌ above pre-industrial levels 1. The world is facing a profound climate crisis and the challenges of climate change require a global response. Reasons for and objectives of the proposal.
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