Carbon Border Adjustment Mechanism
The Carbon Border Adjustment Mechanism (CBAM) is a carbon tariff on carbon intensive products, such as steel, cement and some electricity, imported to the European Union. Legislated as part of the European Green Deal, it takes effect in 2026, with reporting starting in 2023. CBAM was passed by the European Parliament with 450 votes for, 115 against, and 55 abstentions and entered into force on 17 May 2023.
| European Union regulation | |
| Text with EEA relevance | |
| Title | Proposal for a regulation of the European Parliament and the Council establishing a carbon border adjustment mechanism |
|---|---|
| Made under | Article 192(1) of the TFEU |
| History | |
| European Parliament vote | 18 April 2023 |
| Council Vote | 25 April 2023 |
| Preparative texts | |
| Commission proposal | COM/2021/564 final |
| Current legislation | |
A similar CBAM in the UK will be implemented by 2027.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.