3---Our evidence assumes domestic carbon pricing – they’re inextricable from BCAs.
Brauch et. al '21 [Martin Dietrich Brauch: Senior Legal and Economics Researcher at CCSI. He focuses on mining and energy investments and leads the center’s cross-cutting work on climate investment policy.; Jack Arnold: Program Associate at CCSI. He supports the center’s research and programmatic work on investments in mining and energy.; Elena Klonsky and Fanny Everard are 2022 candidates in the MA in Climate and Society program at the Columbia Climate School and 2021–2022 Graduate Research Assistants (GRAs) in climate investment policy at CCSI.; "Event Highlights: Carbon Border Adjustments in the EU, the U.S., and Beyond"; Columbia Center on Sustainable Investment; December 2021; https://ccsi.columbia.edu/content/event-highlights-carbon-border-adjustments-eu-us-and-beyond; ror]
Cosbey emphasized the integral symbiotic nature of BCAs with domestic policies aiming at curbing emissions. The BCA cannot stand alone; instead, it complements either a domestic carbon tax or a regulatory regime for emission trading programs and allowances. Fundamentally, BCAs apply domestic carbon pricing schemes to imported goods.
“It is not clear what a BCA could look like, absent the accompanying domestic policy [at federal level], in the United States,” Cosbey said.