The Global Value Chain Lexicon
A guide to common abbreviations, terms and definitions
Carbon leakage: the situation where businesses shift production to jurisdictions with lower regulatory standards for emmissions
CBAM: Carbon Border Adjustment Mechanism. See Regulation (EU) 2023/956 of the European Parliament and of the Council of 10 May 2023 establishing a carbon border adjustment mechanism (OJ L 130, 16.5.2023, p. 52)
Council Common Approach: the negotiating mandate of the Council when commencing the trilogues with the other institutions to finalise draft EU legislation
CRMA: Critical Raw Material Act proposed by the Commission to help diversify supply of specific raw materials
CSDDD: Corporate Sustainability Due Diligence Directive proposed by the Commission and still under discussion
EUDR: EU Deforestation Free Products Regulation. Regulation (EU) 2023/1115 of the European Parliament and of the Council of 31 May 2023 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation and repealing Regulation (EU) No 995/2010 (OJ L 150, 9.6.2023, p. 206)
Global Value Chains (GVCs): a network of production where different stages of the production process are located across different countries (and jurisdictions)
GPP: Green Public Procurement
TBT: Technical Barrier to Trade. The TBT Agreement is one of the Agreement to which WTO members adhere. It aims to ensure that technical regulations, standards, and conformity assessment procedures are non-discriminatory and do not create unnecessary obstacles to trade.