EU to impose carbon border adjustment mechanism on steel, Al imports, other products
Published: Friday, 11 June 2021
The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to a draft of the EC’s proposal seen by Fastmarkets on June 10.
By Maria Tanatar
The mechanism will integrate into the EU’s
current system that it established for greenhouse gas emissions
allowance trading via the application of an equivalent regime
for imports into the union, the EC said.
The mechanism will be applied to aluminium, iron, steel,
cement, electricity and fertilizer...