Carbon Border Adjustment Mechanism
EU carbon tariff on carbon intensive products / From Wikipedia, the free encyclopedia
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The Carbon Border Adjustment Mechanism (CBAM) is a carbon tariff on carbon intensive products, such as steel,[1] cement and some electricity,[2] imported to the European Union.[3] Legislated[4] as part of the European Green Deal, it takes effect in 2026, with reporting starting in 2023.[5][6] CBAM was passed by the European Parliament with 450 votes for, 115 against, and 55 abstentions[7][8] and entered into force on 17 May 2023.[9]
Quick Facts Title, Made under ...
European Union regulation | |
Text with EEA relevance | |
Title | Regulation of the European Parliament and the Council establishing a carbon border adjustment mechanism |
---|---|
Made under | Article 192(1) of the TFEU |
Journal reference | 2023/956 |
History | |
European Parliament vote | 18 April 2023 |
Council Vote | 25 April 2023 |
Preparative texts | |
Commission proposal | COM/2021/564 final |
Current legislation |
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A similar CBAM in the UK will be implemented by 2027.[10]