Carbon Border Adjustment Mechanism
Consider the following statements:
- The EU’s ‘Fit for 55’ package proposes to cut greenhouse gases by 55 per cent by 2050.
- The proposed Carbon Border Adjustment Mechanism (CBAM) will require foreign producers to pay for the carbon emitted while manufacturing their products.
- As per the proposal, a new Emissions Trading System (ETS) for buildings and road transport, separate from the EU’s current ETS, will become operational by 2026.
Which of the above statement(s) is/are true?
1 and 2
2 and 3
1 and 3
1, 2 and 3