The EU’s Carbon Border Adjustment Mechanism (CBAM) is set to take effect from October 2023 until 2025 as a transitional period, gradually applying to specific carbon-intensive goods. This mechanism is introduced to address the risk of “carbon leakage” by making importers pay for the carbon emissions associated with imported goods. It prevents industries from relocating production to countries with weaker climate policies and maintains a level playing field for domestic producers.
- Ensuring Compliance with CBAM Requirements
Source: www.envirosc.com
