CBAM: a new carbon levy at the EU border

Within the framework of the ‘EU Green Deal’, the European Union is working hard to achieve the set climate ambitions. One of the concrete objectives is to reduce greenhouse gas emissions by at least 55% compared to 1990 levels between now and 2030. To achieve this, the European Council recently decided to introduce a new EU border levy: the ‘Carbon Border Adjustment Mechanism’ (hereinafter: CBAM). In this article, we discuss the main features of this levy and we discuss the importance for practice.

Source Baker Tilly