The European Union Carbon Border Adjustment Mechanism (CBAM) – Implications for India Inc. and imperative for action
Enacted by the European Parliament in April 2023, the Cross Border Adjustment Mechanism (CBAM) is a “‘carbon tariff’” that applies on products manufactured outside the European Union (EU). It takes effect starting October 2026, with reporting starting October 2023. To begin with, the CBAM covers five carbon-intensive sectors – Iron and Steel, Cement, Fertilisers, Aluminium […]
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