- The European Union is under pressure to simplify the Carbon Border Adjustment Mechanism (CBAM) to combat industrial decline.
- The European People’s Party (EPP) has called for a delay of CBAM, but this is unlikely to be heeded.
- The EPP is concerned that CBAM could harm European competitiveness, especially for businesses that rely on imports from countries with less stringent environmental standards.
- The European Commission is expected to release a proposal to simplify CBAM processes and emissions reporting by the end of February.
- Industry experts believe that CBAM will hurt European trade, but that it is necessary to prevent further industrial decline.
- Some industry experts believe that a delay of CBAM would be detrimental to European industry.
- CBAM is designed to push European industry towards a decarbonized future.
Source: ifcreview.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
