EU Carbon Tax Could Have a Significant Impact on Global Trade
On Sunday, the EU and the world’s first carbon import tax came into force. Until 2026, it will be in a transitional phase allowing stakeholders to collect useful information to refine the methodology for the levy’s definitive period, which follows thereafter.
The EU’s Carbon Border Adjustment Mechanism (CBAM) is a central pillar of the bloc’s Fit for 55 policy. It uses the amount of CO2 emitted during production of carbon-intensive products - steel, fertilizer and aluminum - to calculate the levy.
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The EU’s Carbon Border Adjustment Mechanism (CBAM) is a central pillar of the bloc’s Fit for 55 policy. It uses the amount of CO2 emitted during production of carbon-intensive products - steel, fertilizer and aluminum - to calculate the levy.
Click Here to read more.