EU's CBAM enters transitional period, with EUROFER expecting functioning mechanism by 2026 to check CO2 leakage, balance carbon price for steel imports; steel, aluminum, cement, fertilizers, hydrogen and electricity importers required to report emissions

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September 29, 2023 (press release) –

Brussels, 29 September 2023 – The start of the transitional period of the Carbon Border Adjustment Mechanism (CBAM) on 1 October 2023 is a major milestone in the implementation of the EU Green Deal. The initial phase of the CBAM, with simplified monitoring and reporting, will be crucial to assess how watertight its functioning is in preventing carbon leakage in European industrial sectors, such as steel, to other countries that continue to invest in highly CO2-intensive technologies, states the European Steel Association.

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