The European Union’s Carbon Border Adjustment Mechanism (CBAM), which entered its full phase this month, has begun imposing a carbon price on imports of carbon-intensive goods such as steel, iron, aluminum and cement from non-EU countries Importers must now pay a levy equivalent to the cost of carbon allowances under the EU’s Emissions Trading Scheme, currently close to €90 per tonne
In December, the European Commission proposed expanding CBAM to cover around 180 downstream products with a high steel or aluminum content, including car parts, machinery and construction equipment
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Source and Credit: mining.com
