The objective is to ensure European industrial emitters were on a level playing field with competitors in other countries as Europe introduced more significant measures to address the climate crisis.
The European proposal would require other countries to have an emissions compliance system similar to its own to avoid the levy. That did not necessarily mean Australian export businesses had to pay the same carbon price, but they would have to be part of a system that required emissions reductions and had equivalent climate goals for 2050 and possibly 2030.
Here is the link: https://www.theguardian.com/business/2021/feb/11/big-emitting-australian-businesses-could-soon-face-costly-carbon-levy-in-europe
