Public Economics, Explain the role of such adjustments, paying particular attention on the feasibility and implementability of such proposal. Do you think that such policy will eventually work?

The Paris Agreement is the first-ever universal, legally binding global climate change agreement, adopted at the 2015 Paris Climate Conference. The agreement has set out a global framework to limit global warming to well below 2°C. After many years of heated debate, Border Carbon Adjustment Mechanisms (BCAMs)—broadly ,schemes that levy a charge on the carbon content embodied in imports that the importing country regards as in some sense under-priced—are fast becoming reality. The European Union has begun the transition to full adoption of a BCAM in 2030, with financial implications for affected companies beginning in 2025; the UK is committed to adoption of a BCAM in 2027; and, for instance, Canada is in reflection stage after a public consultation. Explain the role of such adjustments, paying particular attention on the feasibility and implementability of such proposal. Do you think that such policy will eventually work?

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