UK to launch carbon levy on imports from 2027

The levy on products such as cement and iron will make sure they face a comparable carbon price to those produced in the UK

By AFP

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British Finance Minister Jeremy Hunt. - Reuters file
British Finance Minister Jeremy Hunt. - Reuters file

Published: Mon 18 Dec 2023, 6:54 PM

Britain on Monday said it planned to introduce a levy on carbon-intensive imported goods such as cement and iron from 2027.

"This levy will make sure carbon intensive products from overseas -- like steel and ceramics -- face a comparable carbon price to those produced in the UK," finance minister Jeremy Hunt said in a statement.

Hunt added that this would enable Britain's "decarbonisation efforts (to) translate into reductions in global emissions".

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The Treasury will next year consult on the levy, known as the carbon border adjustment mechanism, to help decide on its delivery and the full list of goods that will have CBAM applied.

The government department on Monday identified aluminium, fertiliser, glass and hydrogen as other products set to face the levy.

A similar tax by the European Union was set to launch in 2026.


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