In July 2021, the European Commission presented its ambitious Fit for 55 legislation package, which supports its commitment to reduce net greenhouse gas emissions within the EU by at least 55% by 2030 (compared to 1990). From an international trade point of view, the most important part of the package is the Carbon Border Adjustment Mechanism (“CBAM”). The proposals for CBAM regulations can be found here and here and are open for comment until 17 November 2021. Once adopted, CBAM will have a substantial impact on importers of specific goods to the European Union.
Source Mazars
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