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ARTICLE · 23 DECEMBER 2022

EU Agrees On CBAM And EU ETS Reform

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In December 2022, the EU institutions (the European Commission ("Commission"), Council of the European Union ("Council") and the European Parliament ("EP")) reached agreement/political consensus on ...

European UnionInternational Law
Nikolay Mizulin
Nikolay Mizulin
Tim Baines
Tim Baines
Paulette Vander Schueren
Paulette Vander Schueren
Dylan Geraets
Dylan Geraets
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In December 2022, the EU institutions (the European Commission ("Commission"), Council of the European Union ("Council") and the European Parliament ("EP")) reached agreement/political consensus on two major instruments. Agreement was reached on the reform of the EU Emissions Trading Scheme ("ETS") on December 17, 2022,1 and the Carbon Border Adjustment Mechanism ("CBAM") on December 13, 2022.2

The two instruments are closely linked to the extent that the CBAM will work in parallel with the EU ETS by applying a carbon price to imported goods that is equivalent to the carbon price that is applied to goods manufactured in the EU as a result of the EU ETS.

The essence of the CBAM has remained unchanged as compared to the initial Commission proposal (see our 2021 Legal Update European Commission Presents Proposal for Carbon Border Adjustment Mechanism). Importers should now start to prepare for implementation, even if the official legal texts still need to be

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