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September 28, 2023

How CBAM will ‘change the world’ is uncertain

China steel imports
Under the CBAM, importers into the EU of carbon-intensive goods such as iron and steel will have to begin reporting on the emissions embedded in their products (Photo: Qilai Shen/Bloomberg)

The EU’s carbon border adjustment mechanism comes into force this weekend, with businesses warning that the legislation will push up prices and may cause delays and disruption at Europe’s borders

On October 1, the transitional phase of the EU’s carbon border adjustment mechanism comes into force. The regulation “will change the world”, insists a briefing from Wood Mackenzie. But the consultancy – in line with research from The Conference Board, a US-based business membership club – also warns that the CBAM could have unintended consequences, and even slow the energy transition it aims to speed up.

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