Carbon Border Adjustment Mechanism: HM Treasury and HMRC Meeting Note

In May 2024, we were joined by Lucia Suggitt, Lauren Short, Helena Taylor and Rachel Salkin from HM Treasury and HMRC to discuss the proposed Carbon Border Adjustment Mechanism and its ongoing consultation for implementation across the UK. BRC have been working closely with members to ensure maximum visibility of the complexity of this policy. As BRC are not experts in this area, we are happy anonymise and pass on any questions you may have to officials.

The Carbon Border Adjustment Mechanism, otherwise known as CBAM, is a new tax being introduced by the Government in order to address carbon leakage. The tax seeks to put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the UK, and to encourage cleaner industrial production outside of the UK.