Australia Considers Carbon Border Tax To Reach Net Zero by 2050

Australia is moving forward with its plan to implement a carbon border tax in order to reach net zero emissions by 2050.

The government is reviewing the tax with a report due in 2024, Australia Minister for Climate Change and Energy Chris Bowen said on Tuesday.

Bowen’s speech highlighted that Australia’s review of the carbon border adjustment mechanism (CBAM) will focus on addressing carbon leaks in the cross-border trade of steel and cement.

“Making Australia a renewable energy superpower and leader in areas such as critical minerals will require essential industrial inputs like steel, cement, and aluminium,” Bowen said. ...