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CBAM: Parliament pushes for higher ambition in new carbon leakage instrument
REEI 2022/06/23

On Wednesday, the European Parliament adopted its position on the regulation establishing the world’s first Carbon Border Adjustment Mechanism with 450 votes for, 115 against and 55 abstentions. The main content is as follows:

  • Phasing in CBAM from 2027 and ending free allowances in EU ETS by 2032

  • Scope should be extended to include organic chemicals, plastics, hydrogen and ammonia as well as indirect emissions

  • EU budget should support least developed countries through amounts equivalent to sums collected through CBAM

  • Need for a centralised EU CBAM authority

Guest post from European Parliament