EU Climate Governance and the Paris Agreement: The Case of CBAM

• Florence School of Transnational Governance

The STG Talks, held weekly at the Florence School of Transnational Governance, serve as a space for discussion for the entire EUI community. Led by the Policy Leader Fellows, the Talks are a place for informal learning and exchange on global issues affecting different areas of policymaking.

In 2015, the Paris Agreement set the stage for a unified global response to climate change, with the goal of limiting global temperature rise to 1.5ºC above pre-industrial levels. Eight years on, we find ourselves reflecting on progress. Despite this global commitment, 2023 has gone down as the warmest year on record, with only a handful of nations on track to meet their emissions reduction targets.

Within this framework, the European Union has pledged to cut emissions by 55% by 2030, compared to 1990 levels. While sectors under the EU Emissions Trading Scheme (EU ETS) are already subject to mandatory reduction targets, a new instrument was introduced to address imported emissions: the Carbon Border Adjustment Mechanism (CBAM).

This interactive discussion will explore key aspects of CBAM:

• The rationale behind its introduction: What prompted the EU to design a carbon tax on imported products?
• Global impact: How effective can CBAM be in encouraging emissions reductions in non-EU countries?
• Multilateral tensions: Can CBAM align with the principle of "common but differentiated responsibilities" between developed and developing countries?

In this Talk, we will engage in a moderated conversation to dissect these perspectives, assess the potential for CBAM to contribute to global emissions reduction, and evaluate its place within international climate governance.

Speakers:

• Bruno Capuzzi, Policy Leader Fellow
• Jacopo Bencini, Research Associate
• Jacopo Cammeo, Research Associate, RSC
• Valentina Bacchin, Policy Leader Fellow

This event will be held in-person only.