The Australia Institute released its research report regarding carbon taxes discussed in the G7-plus summit and warned the Australian government that Australia’s A$12.6 billion worth of alumina and aluminum export industries may at risk if the so-called carbon border adjustment mechanisms are adopted by major economies led by the EU.
Australia has the world's largest bauxite reserves, and the export volume of alumina is second only to China. Australia’s alumina exports account for 13.9% of the total output in the world.
Carbon border taxes were discussed at the G7-plus summit this time, and several countries, including the EU and UK, expressed their support regarding the taxes.
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