Carbon border tax exemptions to become law
EU Parliament and Council both agree to exempt bulk of importers from paying a carbon tax on goods imported into the EU
The European Parliament and European Council have both supported a proposal to exempt 90% of importers from an EU carbon border tax. This means that the proposal is almost certain to reach the statute book, with representatives of the two bodies to meet later in the summer to negotiate the final shape of the law. The EU Carbon Border Adjustment Mechanism (CBAM) is due to take effect in 2026, and in its initial form required all importers of goods into the EU to report on the emissions of those goods, and to pay the difference between the price of emissions in the country of manufacture and the EU emissions trading scheme (ETS) carbon price. If an exporting country has a comparable carbon pri
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