Tag: CBAM

On October 1, 2023, the EU's Carbon Border Adjustment Mechanism (CBAM) came into effect. CBAM fundamentally changes global trade in CO2-intensive products. Since October 2023, importers of iron & steel products have to report embedded emissions in their products. Starting with imports in 2026, importers will also have to pay for the emissions contained in the imported products — a development with far-reaching implications for procurement, risk management, and supply chains. The potentially significant financial risks for producers, industry, and traders can be mitigated with forward-looking strategies.

ArcelorMittal confirms its intention to invest in the first electric arc furnace (EAF) in Dunkirk. This EAF will require an investment of approximately EUR 1.2 billion.

The European Union is continuing its effort to fight global warming and become a net zero continent by 2050. By agreeing to the world’s first Carbon Border Adjustment Mechanism (CBAM) in December 2022, the European Parliament and the EU Member states have once again attempted to confirm the region’s reputation as a global climate leader.