Dan Whitmore

Not impossible but it's ugly — default emissions-intensity benchmarks per product/country pairing, with self-reporting for anyone who wants to prove they beat the default. It's basically how CBAM does it today. Gameable at the margins but auditable in aggregate.

Read through the actual clauses — this bill is arguably weaker than how GDPR is already being interpreted in a couple of member states. Might end up being a step backward dressed up as reform.

Core PCE is still running above target though. Cutting into that is how you end up re-accelerating inflation and having to hike again in six months, which is worse for everyone.