[HIGHLIGHTS] Climate: European Parliament says 'yes' to reform of its carbon market

The European Parliament adopted on Tuesday 18 April the essence of the European Union's ambitious climate plan. The reform of the carbon market should make it possible to achieve the ambitious greenhouse gas reduction objectives of the Twenty-Seven climate plan, says European Commission President Ursula von der Leyen.

The "carbon border adjustment mechanism" (CBAM) is not strictly speaking a tax, but an unprecedented mechanism to apply to imports from the 20-Seven. The expected revenues, which could exceed €14 billion annually, will feed into the EU's general budget.