Europe’s carbon border tax fuels green power rush amongst Indian aluminium & steel producers
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Update time : 2024-09-09 15:18:10
The push to minimise emissions is not just limited to major aluminium and steel companies, infact their suppliers are also under pressure to reduce emissions across the supply chain. Renewable energy providers report that demand has surged beyond available capacity, with upcoming production already sold out for the next few years.
As part of global efforts to combat climate change, the European Union has introduced the Carbon Border Adjustment Mechanism (CBAM), a crucial measure aimed at regulating the import of carbon-intensive products, including aluminium. This mechanism imposes a tariff based on the emissions generated during manufacturing. The CBAM is scheduled to take effect in January 2026. In anticipation, the European Union has already begun requesting carbon emissions reports for goods exported to the EU.
