'Way we have to go' | EU advances on carbon border tax, stalls action to boost renewables

The EU has reached an agreement in principle to create the world’s first carbon border levy, but a decision on measures to speed up the deployment of renewables has been delayed once more.

As part of the so-called ‘trilogue’ between the European Commission, its parliament and the European Council – the gathering of EU heads of government – an agreement in principle has been reached to gradually introduce a Carbon Border Adjustment Mechanism (CBAM) that could slap a CO₂ price on imports of emission-intensive products from third countries, such as steel or aluminium.