The European Union's new carbon levy, known as the Carbon Border Adjustment Mechanism (CBAM), has been implemented, aiming to reduce carbon emissions from imported goods. The mechanism faces opposition from countries like Russia and China, but it is seen as a test case for establishing carbon pricing globally. Northern Ireland has implemented key measures of the Windsor Framework, introducing red and green lanes for the movement of goods, and a trusted trader scheme. The EU has launched the first phase of its carbon border tariff, which aims to encourage greener production and prevent European manufacturers from losing out to foreign competitors.

EU Implements Carbon Border Mechanisms