On April 25, 2023, the EU Council approved the implementation of the carbon tax border mechanism (CBAM) and changes to the emissions trading system (ETS).
The EU Council approved the following solutions from the “Fit for 55 in 2030” package:
- introduction of CBAM,
- phasing out free allowances in the ETS from 2026,
- the introduction of road transport and buildings in the new ETS II from 2027 and
- establishing a Social Climate Fund to fight energy and mobility poverty.
The rules will be published in the Official Journal of the EU and will enter into force 20 days later.
Source PwC
