On Jan. 5, Mr. Mohammed Chamin – a Member of the European Parliament and the “rapporteur” on the proposed Carbon Border Adjustment Mechanism (CBAM) in the Parliament’s Committee on Environment, Public health and Food Safety (ENVI) – announced that a draft report on the CBAM proposal had been sent to shadow rapporteurs for discussion. This
The European Union is considering implementation of a new carbon policy, the Carbon Border Adjustment Mechanism (CBAM), that could profoundly impact the global import/export market. The CBAM, a carbon-pricing system for imports into the EU, is proposed to be applicable as of Jan. 1, 2023, and would initially only cover products from five sectors.