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EU Carbon Border Adjustment Mechanism

The EU Carbon Border Adjustment Mechanism (CBAM) comes into effect on 1 October 2023. CBAM seeks to address the risk of ‘carbon leakage’ (the offshoring of carbon-intensive manufacturing activities) by putting a carbon price on the import into the EU of certain carbon-intensive goods that is equivalent to the carbon price of domestic production (less any carbon price already paid).

Source: Deloitte

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