The European Union and a growing list of countries are working on carbon border adjustment mechanisms (CBAM) aimed at taxing emissions imbedded in imported products. The avowed purpose of these schemes is to accelerate the decarbonation of domestic industries, while protecting their competitiveness against imports of products that are not subject to the same emission reduction constraints. Four leading expects in their field will review and compare the main features of some of these schemes and discuss their impact on developing countries, as well as their effectiveness in contributing to the fight against climate change.