EU Council and Parliament Reach a Provisional Agreement on Carbon Border Adjustment Mechanism

The Carbon Border Adjustment Mechanism(CBAM) is a fundamental part of the “Fit for 55” package. This initiative aims to reduce net greenhouse gas emissions by 55% by 2030 (as compared to emissions in 1990) and to become a climate-neutral continent by 2050. The proposal for a carbon border adjustment mechanism was presented in July 2021. […]