Brussels extends pilot phase of CO₂ anti-leakage mechanism due to “technical problems”

The European Commission has extended for 30 days the first tranche of the pilot phase of the EU’s Carbon Border Adjustment Mechanism (CBAM), designed to prevent European industry from fleeing to jurisdictions with laxer environmental standards, for 30 days.

The CBAM seeks to tax imports from certain sectors whose manufacture generates more CO₂ than allowed within the borders of the community club and thus prevent European companies from suffering a competitive disadvantage and or being harmed by the less demanding conditions in which foreign competition operates.

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