Strengthening the EU carbon border adjustment mechanism and closing loopholes

The European Parliament has approved its negotiating position to expand the Carbon Border Adjustment Mechanism beyond basic materials to a broader range of finished steel and aluminium products. The proposed changes also strengthen anti-circumvention measures and introduce support for European producers facing carbon-related export costs. An option allowing Paris Agreement Article 6 carbon credits to be deducted from CBAM obligations was removed from the text, with the issue expected to be addressed through the upcoming EU Emissions Trading System review. The legislation will now proceed to negotiations with EU member states.
News Link
#EU #CBAM #Article6 #EUETS #CarbonPricing #Trade