Where the math is defensible.
Long-form research on live enterprise decisions. Publication is selective. Every number traces to a named source. No takes without evidence.
EU CBAM in 2026: the next round of sector and scope expansion
The transition phase ended in January, the definitive phase has begun, and Brussels is already debating which sectors and scopes come next. Exposure mapping and contract repricing cannot wait for the next regulation.
On January 1, 2026, the EU Carbon Border Adjustment Mechanism crossed from reporting into a definitive phase that requires importers of cement, iron and steel, aluminum, fertilizers, electricity, and hydrogen to surrender CBAM certificates priced against the EU ETS. The political debate has already moved on to what comes next: chemicals, ...
The American Carbon Border: Foreign Pollution Fee Act in 2026
Cassidy and Graham have resurrected the Foreign Pollution Fee Act with bipartisan momentum. The architecture, partner tiers, and CBO scoring now define the front edge of US trade and climate policy.
Senator Bill Cassidy reintroduced the Foreign Pollution Fee Act (S.1325) in April 2025 with Lindsey Graham as lead Republican coauthor and a small bipartisan caucus drawn from manufacturing belt Democrats. The bill is a partner tier carbon border adjustment, not a domestic carbon price: imports of steel, aluminum, cement, fertilizer, glas...