A pedestrian holding an umbrella walks near a wind turbine in Dewas, Madhya Pradesh. (Photographer: Dhiraj Singh/Bloomberg)
By 2026, the European Union could have a carbon tax on imports of certain products manufactured using carbon-intensive energy. This would be the consequence of the adoption of a proposal in July 2021 for a Carbon Border Adjustment Mechanism by the European Commission, effectively placing a carbon price or tariff on EU imports of a selection of products. The objective is to ensure that European emissions reduction efforts contribute t...