EU CBAM: Key Updates and Impacts on Global Trade
The European Union’s Carbon Border Adjustment Mechanism, commonly referred to as CBAM, is a groundbreaking policy aimed at curbing carbon leakage and supporting the EU’s ambition to achieve climate neutrality by 2050. As a vital element of the European Green Deal, the EU CBAM has undergone significant revisions since its initial proposal in July 2021. This article explores the major updates to the EU CBAM framework and their potential effects on businesses, including CBAM partners, and international trade across CBAM Europe.