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Under EU Commission plan, the carbon border tax, due to enter into force in 2026, will target certain goods produced in third countries with lower environmental standards (Photo: European Commission)

Lead MEP says carbon border tax money must help poor nations

The revenues from the EU's proposed carbon border tax should be used to support the decarbonisation of least-developed countries, a leading MEP has proposed in a draft report leaked to the press on Wednesday (5 January).

The so-called carbon border adjustment mechanism (CBAM), which will set a new levy on imports of iron, steel, cement, fertiliser, aluminium, and electricity, is expected to provide €1bn per year once it is fully implemented.

In a draft report from the European Par...

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Author Bio

Elena is EUobserver's editor-in-chief. She is from Spain and has studied journalism and new media in Spanish and Belgian universities. Previously she worked on European affairs at VoteWatch Europe and the Spanish news agency EFE.

Under EU Commission plan, the carbon border tax, due to enter into force in 2026, will target certain goods produced in third countries with lower environmental standards (Photo: European Commission)

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Author Bio

Elena is EUobserver's editor-in-chief. She is from Spain and has studied journalism and new media in Spanish and Belgian universities. Previously she worked on European affairs at VoteWatch Europe and the Spanish news agency EFE.

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