Recently, the term 'Carbon Border Adjustment Mechanism (CBAM)' often seen in the news, refers to
1
a carbon-pricing system proposed for imports into the Developed nations
2
a UN mechanism to assist countries transition towards greener and more inclusive economies
3
a carbon-pricing system proposed for imports into the European Union
4
a system of assessing the overall carbon foot-print caused by the use of fossil fuels by the world