The European Union (“EU”) took a significant step towards achieving its climate goals with the introduction of the Carbon Border Adjustment Mechanism (“CBAM”) as part of the EU Green Deal.
With the aim of reducing greenhouse gas emissions by 55% by 2030, the CBAM is set to revolutionize carbon pricing for both local products and imports. The CBAM will be phased in over eight years and gradually replace the free allowances provided by the EU Emissions Trading System.
Source: zampadebattista.com
