Europe plans border tax on carbon. Will others join the club?
The COP26 global climate summit is, by design, about bargaining and voluntary steps, not mandates and penalties. But Europe is poised to add a tough-love tactic on the side. Will it help?
What happens when one trading power is trying to drive down carbon emissions, and other nations aren’t moving so fast? That’s a hot question for the European Union, which makes its heavily polluting industries pay for their pollution while many other countries don’t.
Leaders in the EU have long argued that it’s time to level the playing field....