Finetuning the Carbon Border Adjustment Mechanism

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Climate, Energy & Natural Resources

03Jun2021

starts 10:00

ends 11:00

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‘What the Chief Says’ events are exclusive, small, informal and off the record roundtable debates which offer our members the opportunity to engage directly and get to the heart of a specific policy issue with a senior decisionmaker from a European institution or government. These events are geared to be in tune with the interest of our members and are strategically linked to emerging trends within the EU sphere. It allows us to focus on the opportunities and identify the possible challenges in the European Commission’s own agenda and provides the possibility to go into greater depth and discuss the nitty-gritty of policies affecting Europe in the next five years and beyond.

The speaker gives a short, 10-minute introduction to the topic under discussion, after which the floor is open to any possible comments or questions which may be posed to the speaker for the remaining 50 minutes.

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Schedule

10.00 11.00

Finetuning the Carbon Border Adjustment Mechanism

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Expand Finetuning the Carbon Border Adjustment Mechanism

Now that EU negotiators have clinched a deal on the European Climate Law, the bloc’s ambition to become climate-neutral by 2050 and reduce its emissions by at least 55% this decade will soon become legally binding. The EU carbon price reached a record level of €50 per tonne in response to the news, causing some industry leaders to point out that their global competitors are not facing the same constraints.

In July, the European Commission’s proposal for a Carbon Border Adjustment Mechanism will see the light of day. Meant to reduce the risk of carbon leakage, the file has been subject to intense discussions ever since it first entered the EU lexicon. As the EU seeks a mechanism to ensure that the price of imports reflects their carbon content, questions on competition, protectionism and fairness arise.

How can the Carbon Border Adjustment Mechanism be WTO-compatible?
What sectors will fall under the proposal?
How will the EU ensure that the Carbon Border Adjustment Mechanism does not disadvantage emerging economies?
What is the relationship between the Emissions Trade Scheme and the Carbon Border Adjustment Mechanism?

Speakers

Benjamin Angel

Director for Direct Taxation, Tax Coordination, Economic Analysis and Evaluation and Acting Director for Indirect Taxation and Tax Administration at the European Commission Directorate-General for Taxation and Customs Union

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Speakers

Benjamin Angel has been with the European Commission for more than two decades. He served in the cabinets of several European Commissioners for Economic and Monetary Affairs (Yves-Thibault de Silguy, Pedro Solbes and Joaquin Almunia). Angel also held positions in the services in charge of economic and financial affairs and more recently, taxation. He is currently Director for Direct Taxation, Tax Coordination, Economic Analysis and Evaluation and acting Director for Indirect Taxation and Tax Administration.

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