Progress against milestone 6.2020.2
Short- and mid-term measures for GHG emissions reductions agreed and implemented.
October 5, 2023

The European Commission’s Carbon Border Adjustment Mechanism (CBAM) is a new carbon tax on imported goods. CBAM aims to equalise the carbon price paid by European products with those from outside the EU.

Under CBAM, companies are required to collect data on embedded emissions of imported products from October 2023 onwards, with reporting commencing at the end of January 2024, and will apply through the transition phase of CBAM, which runs until the end of 2025.