Carbon Border Adjustment Mechanism (CBAM)
The European Union has implemented the Carbon Border Adjustment Mechanism (CBAM) as part of its “Fit for 55” climate strategy aimed at reducing greenhouse gas emissions by 55% by 2030. CBAM imposes a carbon-related charge on imports such as steel, aluminium, cement, fertilizers, and other carbon-intensive products entering the EU market. The mechanism officially entered its payment phase in January 202
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