Australia Moves Carbon Border Tax Forward, Seeks Industry Views

Australia is seeking feedback on a carbon border tax to protect its steel and cement industries from being hit with foreign tax liabilities from other countries’ own policies.

The consultation released Monday will assess the need for an Australian carbon border adjustment mechanism, emissions product standards, further funding for decarbonisation, and multilateral initiatives, according to the government announcement.

The carbon border adjustment mechanism is a levy on imports to prevent carbon leaks, which occur when industries move production to countries with weaker carbon reduction policies.

• The Australian government wants to know what options are available to address carbon leaks, how ...