KPMG’s Global Responsible Tax Project recently held a roundtable in collaboration with KPMG IMPACT, to look at the technical difficulties of designing a Carbon Border Adjustment Mechanism (CBAM).
This roundtable invited experts from the World Bank, UN, IMF, OECD, the Potsdam Institute for Climate Impact Research and the University of Central Florida.
The below note was prepared as a briefing document to help inform discussion at this roundtable and examines at a high level whether a CBAM could be compatible with World Trade Organization (WTO) rules. At the time of writing, the most developed proposals to implement a CBAM have come from the European Union (EU) and so the note mainly focuses on that initiative.
The note was produced for discussion purposes only and does not represent advice or the opinion of any KPMG firm.
Chris became Head of Tax Policy for KPMG UK in 2011. In this role he was a regular commentator in the press, as well as on radio and TV, led discussions on various representations with HMRC/HMT. In 2014 Chris spearheaded KPMG UK’s Responsible Tax for the Common Good initiative. In September 2016 Chris took on the role of Head of...