Tag: ETS

2026 will mark the start of a new era of carbon pricing in the steel industry. Free emission allowances for European steel mills will be phased out. At the same time, CBAM introduces an equivalent carbon price for imported steel. Together, these two instruments narrow cost gaps, but they may not be sufficient for the transition to green steel.

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.