Carbon Border Adjustment Mechanism (CBAM)

It is plan from the European Union (EU), proposed in 2021.

  • It proposes to tax carbon-intensive products, such as iron and steel, cement, fertilizer, aluminium, electricity, and hydrogen, from 2026.
  • It aims to eliminate the difference in carbon price paid by companies subjected to the EU’s Emissions Trading System (ETS) or its domestic compliance-based carbon market.
  • It is also part of the “Fit for 55 in 2030 package”- EU’s plan to reduce GHG emissions by at least 55% by 2030 compared to 1990 levels, in line with the European Climate Law.
  • Under the mechanism, EU importers buy carbon certificates corresponding to the ....
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