The European Parliament approved on April 18 as many as three pieces of legislation from its landmark Fit for 55 package, which aims to reduce greenhouse gas emissions by 55% by 2030.
Among those are the Carbon Border Adjustment Mechanism (CBAM), which is designed to create a more level playing field between EU and non-EU producers by attributing a carbon price to certain imported products.
According to the lead MEP on the file, Mohammed Chahim, the CBAM will have a major impact.
"It is an absolute game changer and it's really historic because for the first time we will start asking producers to pay for also the imported CO2 emissions," he told Euronews.
"We hope that this will incentivise other regions in the world to join us in the EU to show the same ambition and decarbonise the economy as soon as possible and to keep the one so that we keep the 1.5 degrees within reach."
