Endnotes 1. World Bank. (2025). State and trends of carbon pricing. https://www.worldbank.org/en/publication/state-and-trends-of- carbon-pricing 2. Sandler, E., Jiang, C., & Schrag, D. (2025). The Revenue potential and country exposure of a US border carbon adjustment. Belfer Center for Science and International Affairs. https://www.belfercenter.org/research-analysis/us-border- carbon-adjustment 3. Mehling, M. A., van Asselt, H., Das, K., Droege, S., & Verkuijl, C. (2019, July 11). Designing border carbon adjustments for enhanced climate action. American Journal of International Law, 113(3), 433–481. https://doi.org/10.1017/ajil.2019.22 4. Gailhofer, P ., & Graichen, V. (2023). Monitoring, reporting and verification in a carbon border adjustment mechanism . German Environment Agency. https://www.umweltbundesamt.de/en/publikationen/monitoring-reporting-verification-in-a- carbon 5. NewClimate Institute. (2025, April 22). Navigating CBAM in China: Exploring policy pathways for Guangdong Province. https://newclimate.org/resources/publications/navigating-cbam-in-china-exploring-policy-pathways-for-guangdong- province 6. Accountancy Europe. (2024). Carbon Border Adjustment Mechanism (CBAM): The EU’s environmental policy tool for fair carbon emissions pricing. https://taxation-customs.ec.europa.eu/carbon-border-adjustment-mechanism_en 7. HM Revenue & Customs. (2025). Carbon Border Adjustment Mechanism (CBAM): Policy update. https://www.gov. uk/government/consultations/draft-legislation-carbon-border-adjustment-mechanism/carbon-border-adjustment- mechanism-cbam-policy-update 8. The Omnibus package, initiated by the European Commission on 26 February 2025, proposes to simplify and strengthen CBAM alongside other major sustainability laws by reducing regulatory burdens and increasing administrative efficiency. European Commission. (2025, February 26). CBAM: New Commission proposal will simplify and strengthen. https:// taxation-customs.ec.europa.eu/news/cbam-new-commission-proposal-will-simplify-and-strengthen-2025-02-26_en 9. European Union. (2023). Regulation (EU) 2023/956 of the European Parliament and of the Council of 10 May 2023 establishing a carbon border adjustment mechanism. Official Journal of the European Union, L 130, 52–112. https://eur- lex.europa.eu/eli/reg/2023/956/oj/eng 10. United Nations. (2015, December 12). The Paris Agreement. https://unfccc.int/process-and-meetings/the-paris- agreement 11. Böning, J., Di Nino, V., & Folger, T. (2023). Benefits and costs of the ETS in the EU, a lesson learned for the CBAM design. ECB Working Paper. No. 20234/2764. http://dx.doi.org/10.2139/ssrn.4335984 12. European Commission. (2021, July 14). Carbon border adjustment mechanism: Questions and answers. https://ec.europa.eu/commission/presscorner/api/files/document/print/en/qanda_21_3661/QANDA_21_3661_EN.pdf 13. European Parliament. (n.d.). Carbon border adjustment mechanism. Retrieved October 16, 2025, from https://www. europarl.europa.eu/RegData/etudes/ATAG/2023/754626/EPRS_ATA(2023)754626_EN.pdf 14. European Commission. (2021, October 1). Joint EU-US Statement on a Global Arrangement on Sustainable Steel and Aluminium. https://ec.europa.eu/commission/presscorner/detail/en/ip_21_5724 15. Brauch, M. D., Arnold, J., Klonsky, E., & Everard, F. (2021, December). Event highlights: Carbon border adjustments in the EU, the US and beyond. The Columbia Center on Sustainable Investment (CCSI), Columbia Law School and Columbia Climate School at Columbia University. https://ccsi.columbia.edu/content/event-highlights-carbon-border- adjustments-eu-us-and-beyond 16. Liberal Party of Canada. (2025). Mark Carney’s plan. https://liberal.ca/wp-content/uploads/sites/292/2025/04/Canada- Strong.pdf 17. US Congress. (2025, April 8). Foreign Pollution Fee Act of 2025. https://www.congress.gov/bill/119th-congress/senate- bill/1325/text 18. Australian Government, Department of Climate Change, Energy, the Environment and Water. (2025, February 19). Australia’s carbon leakage review. https://www.dcceew.gov.au/climate-change/emissions-reduction/review-carbon- leakage 19. HM Treasury. (2023, December 18). Factsheet: UK Carbon Border Adjustment Mechanism. https://www.gov.uk/ government/consultations/addressing-carbon-leakage-risk-to-support-decarbonisation/outcome/factsheet-uk-carbon- border-adjustment-mechanism 20. International Carbon Action Partnership (ICAP) (2025, July 15). Türkiye adopts landmark climate law, paving the way for national ETS. https://icapcarbonaction.com/en/news/turkiye-adopts-landmark-climate-law-paving-way-national-ets . 21. Reuters (2022, December 14). Japan plans to introduce carbon levy on fossil fuel importers in FY28/29. https://www. reuters.com/business/sustainable-business/japan-plans-introduce-carbon-levy-fossil-fuel-importers-fy2829-2022-12-14/ 22. Yoshino, N., Rasoulinezhad, E., & Taghizadeh-Hesary, F. (2021). Economic impacts of carbon tax in a general equilibrium framework: Empirical study of Japan. Journal of Environmental Assessment Policy and Management 23 (01n02), 2250014: https://doi.org/10.1142/S1464333222500144 Climate and Competitiveness: Border Carbon Adjustments in Action 39

Climate and Competitiveness Border Carbon Adjustments in Action 2025