Summary:

- The article discusses carbon border adjustment mechanisms (CBAMs), which are policies that aim to put a price on the carbon emissions associated with imported goods. This is done to prevent "carbon leakage" where emissions-intensive industries move to countries with lax climate policies.

- CBAMs are seen as a potential tool to help tackle climate change by incentivizing other countries to adopt more ambitious climate policies and reducing the competitiveness disadvantage faced by countries with stricter climate regulations.

- The article outlines how CBAMs work, the potential benefits and challenges, and the current state of CBAM proposals being developed by the European Union and other jurisdictions.