To ask His Majesty's Government what assessment they have made of the benefits of introducing a Carbon Border Adjustment Mechanism to the steel industry for the purposes of decarbonisation through a tariff on carbon intensive products.
Answered on
28 November 2023
The government has recently consulted on potential future measures to mitigate carbon leakage risks, including the potential for a UK Carbon Border Adjustment Mechanism (CBAM). The consultation received more than 160 responses from the UK and overseas, including responses from a range of industry sectors and from civil society. The government is considering the evidence to inform policy decisions and will respond in due course.
Answered by
Treasury