CBAM (Carbon Border Adjustment Mechanism)

    ESG & Governance

    The EU's charge on the carbon embedded in imports of cement, iron and steel, aluminium, fertilisers, electricity and hydrogen.

    CBAM's definitive period began on 1 January 2026, after a reporting-only transition from October 2023. Importers buy certificates priced in line with the EU ETS, for a payable share of embedded emissions that rises from 2.5% in 2026 to 100% in 2034. Importers of less than 50 tonnes a year are exempt for most goods. The India-EU trade agreement concluded in January 2026 did not exempt India.

    Related terms

    Cap-and-tradeLeakage (carbon)Physical intensityCCTS (Carbon Credit Trading Scheme)

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