(19 July 2021) As a part of the European Green Deal, the European Commission has presented a carbon border adjustment mechanism (CBAM) for selected sectors aimed at addressing the risk of climate change by reducing GHG emissions in the European Union and globally.
The current list of CBAM goods include five broad commodity groups — aluminum, cement, electricity, fertilizers, and iron and steel — but the list may be extended in the future.
To ensure that the price of imports more accurately reflects their carbon content, EU imports of CBAM goods (or domestic consumption of imported goods) will be subject to a carbon tax, which is expected to bring around 10 billion euro of additional revenue per year into the EU budget.
The current plan is for the CBAM to be fully implemented in 2026, after a 2023–2025 transition period during which declarants of imported CBAM goods will have to report, on a quarterly basis, the actual embedded emissions in goods imported, detailing direct and indirect emissions as well as any carbon price paid abroad.
*2020 data on global trade by commodity and partner is available at Knoema. This dashboard focuses on 2019 data, which is more likely to be representative of typical EU CBAM imports given the global economic and trade disruptions of 2020.
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"हमारी वेबसाइट आपके ऑनलाइन अनुभव को बेहतर बनाने के लिए कुकीज़ का उपयोग करती है। जब आपने यह वेबसाइट लॉन्च की, तो उन्हें आपके कंप्यूटर पर रखा गया था। आप अपने इंटरनेट ब्राउज़र सेटिंग्स के माध्यम से अपनी व्यक्तिगत कुकी सेटिंग्स बदल सकते हैं।"
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