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CBAM: Navigating the Why, When and What
Key takeaways
The European Union’s Carbon Border Adjustment Mechanism (CBAM) is a crucial component of the EU’s strategy to achieve Europe’s legally binding net zero targets, avoid carbon leakage and incentivize international decarbonization. It will primarily affect importers and manufacturers in industries such as cement, fertilizer, iron, steel, aluminum, hydrogen, and electricity production.
Since its official publication on May 16, 2023, the CBAM Regulation has been supplemented with numerous new rules and additional specifications, further complicating the regulatory landscape. The specific regulation for the transitional period was released on June 13, followed by the comprehensive rules on supplier emission reporting and the overwhelming communication template