Concerns remain after EU CBAM enters transitional phase

The Carbon Border Adjustment Mechanism (CBAM) proposed by the European Union (EU) has officially entered into its transitional phase on October 1, with global debates and worries over its impact on international trading including the commodity world going on and on, Mysteel Global observed.

The CBAM, as a crucial component in the EU's drive to achieve a 55% reduction in carbon emissions by 2030 from1990 levels, was approved in April this year. The scheme allows a carbon tax to be imposed on high-carbon goods imported to the EU and will initially apply to cement,