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In collaboration with the Institute of Energy Economics, Japan

The Atlantic Council Global Energy Center and the Institute of Energy Economics, Japan, looks forward to your participation in a private workshop on the future of carbon border adjustment (CBA) mechanisms. George David Banks, chief strategist for the minority on the US House of Representatives’ Climate Select Committee, will offer a brief presentation to contextualize the discussion (additional speakers to be announced). The meeting will take place via Zoom, on Wednesday, December 9th, at 8:00 am EST / 10:00 pm JST. Please register below to receive Zoom information.

An increasing sense of urgency to reduce carbon emissions around the world has led to a demand for bold new approaches to decarbonize the economy. New policy tools designed to change how global industry and trade track and manage their emissions are now being considered an essential part of the picture, in tandem with the decarbonization of energy resources. CBA mechanisms are one such policy, with significant potential to not just reshape emissions tracking, but to transform global trade.

While ambitious and well-intentioned, in practice, the design, implementation, and reaction to CBA mechanisms present huge challenges not just within a country’s borders, but with a constellation of allies, partners, and other stakeholders from around the world. CBA mechanisms must also cover multiple sectors including energy, shipping, and manufacturing, avoid discrimination based on inaccurate data, and empower regulatory bodies with sufficient tools to accurately measure, report, and transparently price carbon – presenting an additional policy challenge. Amidst all of this, the design and policy nuance of CBAs will influence how global markets shift and respond to new trade flows, with consequences for geopolitical and geo-economic partnerships around the world.

This workshop will examine the challenges facing the design and implementation of CBA mechanisms. How can they be optimized to facilitate emissions reduction without sacrificing or significantly constraining global trade? Though the European Carbon Border Adjustment will likely grow out of the EU’s existing Emissions Trading System, what other models exist, and which approaches might best balance emissions, trade, and climate goals?

You will be able to join this conversation via the web application Zoom, which is accessible through your web browser, the Zoom desktop or mobile app, and by phone. Please register below in order to receive Zoom information.