The UK government announced the UK Carbon Border Adjustment Mechanism (CBAM) to address carbon leakage risks, to be implemented from 2027. It will cover imports of certain products and apply to Scope 1 & 2 emissions. Some differences from the EU CBAM include sectoral coverage and scope of emissions. The UK CBAM will consider carbon price paid in exporting countries and will work in parallel with the UK ETS. Detailed consultation is expected in 2024, and there are differences in implementation and requirements compared to the EU CBAM.
Siurce PwC
Latest Posts in "United Kingdom"
- UK–GCC Free Trade Agreement: A Landmark Deal Opening New Trade and Customs Opportunities
- Chancellor Rachel Reeves’ Statement on Economic Response to Iran War and Cost of Living Support
- Reeves’ VAT Cut Possible Only Thanks to Brexit
- EY on summer VAT cut’s limited but welcome boost for hospitality
- Business leaders say temporary VAT cuts don’t go far enough
