In December 2022, Institutions in the EU broadly agreed to implement a 'carbon border adjustment mechanism' (CBAM), to ensure that imports into the UK did not escape the carbon pricing regulations already in place in the UK.

This would effectively place a tax on carbon imports, by putting a price on emissions associated with the production of certain goods that enter the UK. While not an issue for Australia at present, something that we need to keep an eye on!. See an analysis of this from Ecoact HERE.