This discussion paper analyses potential synergies between climate clubs and CBAMs. It presents a case study of the concrete proposals currently debated for implementation: 1) the EU CBAM which looks set to be adopted by the EU Council and Parliament later this year and 2) the proposal for a climate club that was adopted by the G7 at their summit in June 2022. Chapter 2 introduces the two instruments and explains how they interrelate. Chapter 3 discusses potential obstacles to a full integration of both instruments. Chapter 4 shows how product-specific standards can be a tool at the intersection of both instruments, thereby augmenting synergies between them. The paper is directed at policy makers as well as the general scientific community that conducts research on the topics described above.