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December 2, 2024, Paper: "This white paper offers a policy proposal for how border carbon adjustments can increase global climate finance, with a focus on the EU Carbon Border Adjustment Mechanism (CBAM). This proposal is designed to offer a “carrot” to developing countries in the form of new funding for decarbonization, to complement the “stick” of carbon pricing introduced by CBAM. By offering a practical way forward for the CBAM to increase finance for clean energy and other carbon mitigation projects in developing countries, we hope to catalyze large volumes of new investment in the Global South, and also to re-energize support for the CBAM as a vital measure in the energy transition. At its core, CBAM is designed to preserve the level playing field of European firms subject to the EU ETS by imposing an equivalent carbon price on foreign imports. At the same time, CBAM also has core environmental goals, aiming to encourage more countries around the world to adopt carbon pricing measures, and therefore to incentivize decarbonization."