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  Assessing different European Carbon Border Adjustment Mechanism implementations and their impact on trade partners

Beaufils, T., Ward, H., Jakob, M., Wenz, L. (2023): Assessing different European Carbon Border Adjustment Mechanism implementations and their impact on trade partners. - Communications Earth and Environment, 4, 131.
https://doi.org/10.1038/s43247-023-00788-4

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Item Permalink: https://publications.pik-potsdam.de/pubman/item/item_28352 Version Permalink: https://publications.pik-potsdam.de/pubman/item/item_28352_3
Genre: Journal Article

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 Creators:
Beaufils, Timothé1, Author              
Ward, Hauke2, Author
Jakob, Michael2, Author
Wenz, Leonie1, Author              
Affiliations:
1Potsdam Institute for Climate Impact Research, ou_persistent13              
2External Organizations, ou_persistent22              

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 Abstract: The European Union (EU) will implement a Carbon Border Adjustment Mechanism (CBAM) to reach its climate mitigation targets while avoiding the relocation of its industries to countries with less stringent climate policies (carbon leakage). The exact implementation and possible future extensions of such an EU CBAM are still being debated. Here we apply a throughflow-based accounting method on detailed trade network data to assess the coverage of different implementation options. Using a stylized comprehensive EU CBAM as benchmark, we then quantify how an EU CBAM may affect the EU’s trade partners by channeling the EU carbon price to other countries. We find that middle- and low-income countries for which the EU is an important export market would be disproportionally impacted even under conservative implementation options. We finally explore different international revenue recycling schemes to make the EU CBAM inclusive toward vulnerable countries and able to foster global climate cooperation.

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Language(s): eng - English
 Dates: 2022-09-082023-03-312023-04-242023-04-24
 Publication Status: Finally published
 Pages: 9
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: Organisational keyword: RD4 - Complexity Science
PIKDOMAIN: RD4 - Complexity Science
Research topic keyword: Climate Policy
Research topic keyword: Economics
Research topic keyword: Mitigation
Regional keyword: Global
Model / method: Quantitative Methods
MDB-ID: yes - 3418
DOI: 10.1038/s43247-023-00788-4
OATYPE: Gold - DEAL Springer Nature
PIKDOMAIN: RD5 - Climate Economics and Policy - MCC Berlin
Organisational keyword: RD5 - Climate Economics and Policy - MCC Berlin
Working Group: Climate Policy and Development
 Degree: -

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Project name : ImpactEE: Impact of intensified weather extremes on Europe's economy
Grant ID : Az 93350
Funding program : Europe and Global Challenges
Funding organization : VolkswagenStiftung

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Title: Communications Earth and Environment
Source Genre: Journal, SCI, Scopus, oa
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Publ. Info: -
Pages: - Volume / Issue: 4 Sequence Number: 131 Start / End Page: - Identifier: CoNE: https://publications.pik-potsdam.de/cone/journals/resource/communications-earth-environment
Publisher: Nature