RESOURCESfo the FUTUREComparing the EuropeanUnion Carbon BorderAdjustment Mechanism,theClean Competition Act,andthe Foreign Pollution Fee ActMilan Elkerbout,Ray Kopp,and Kevin RennertReport 23-18December 2023About the AuthorsMilan Elkerbout is a fellow at RFF working on international climate policy and onEuropean climate policies to decarbonize energy-intensive industries in particular.He has worked extensively on the European Union's emissions trading system (EUETS),its various reforms,and its role in decarbonizing industry.Elkerbout has ledpolicy research on green steel,carbon capture and carbon removals,carbon leakage,climate clubs,as well as the EU's response to the COVID-19 pandemic,energy crisis,and US Inflation Reduction Act.He has also written on industrial and innovationpolicy,the trade-climate policy nexus,and supranational governance,and has workedwith policymakers,industry,civil society,and academia.Elkerbout has a backgroundin European political economy.Between 2014 and 2023,he was working for CEPS,apolicy think tank in Brussels,as a research fellow and head of its climate program.Fromspring 2019,he spent a year as a visiting fellow at IVL Stockholm as part of the MistraCarbon Exit research program.Raymond Kopp is a senior fellow at Resources for the Future (RFF).He holds PhDand MA degrees in economics and an undergraduate degree in finance.He has beena member of the RFF research staff since 1977 and has held a variety of managementpositions within the institution.Kopp's interest in environmental policy began inthe late 1970s,when he developed techniques to measure the effect of pollutioncontrol regulations on the economic efficiency of steam electric power generation.He then led the first examination of the cost of major U.S.environmental regulationsin a full,general equilibrium,dynamic context by using an approach that is nowwidely accepted as state-of-the-art in cost-benefit analysis.During his career Kopphas specialized in the analysis of environmental and natural resource issues witha focus on federal regulatory activity.He is an expert in techniques of assigningvalue to environmental and natural resources that do not have market prices,whichis fundamental to cost-benefit analysis and the assessment of damages to naturalresources.Kopp's current research interests focus on the design of domestic andinternational polices to combat climate change.Kevin Rennert is a fellow at RFF,where he first joined as a visiting fellow in 2017.Priorto his arrival at RFF,Rennert served as deputy associate administrator for the Officeof Policy at the US Environmental Protection Agency.Leading up to his appointmentin the Office of Policy,he worked as senior advisor on Energy for the Senate FinanceCommittee.In that role,Rennert advised the committee's Chairman,Senator RonWyden (D-OR),on a wide range of topics related to clean energy,efficiency,andpolicies to reduce greenhouse gas emissions.From 2008 to 2014,he worked on energyand climate legislation as senior professional staff for the Senate Energy Committee.In that capacity,Rennert led the development of the Clean Energy Standard Act of2012(S.2146),a presidential priority that would use market mechanisms to double theamount of electricity generated in the US from low or zero carbon sources by 2035.In 2010 and 2011,Rennert also taught graduate courses in energy policy as adjunctfaculty in the Department of Strategic Management and Public Policy at GeorgeWashington University.Resources for the Futurei