London CNN —European Union governments have reached a deal on the world’s first major carbon border tax, as part of an overhaul of the bloc’s flagship carbon market that aims to make its economy carbon-neutral by 2050. EU ministers finalized details of the Carbon Border Adjustment Mechanism early Sunday after reaching a provisional agreement earlier on in the week. The landmark measure adds a pollution price on certain imports to the European Union. She added that certifying carbon emissions in producing countries remains a “challenge.”Climate policy overhaulThe carbon border tax is part of a wider deal agreed to Sunday that reforms the EU carbon market to cut its emissions 62% by 2030, compared to 2005. The Carbon Border Adjustment Mechanism will be phased in at the same time, in that way protecting domestic firms from being undercut by foreign competitors.

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