EU: The European Parliament has approved proposed changes to the EU carbon border adjustment mechanism (CBAM) as part of efforts to reduce the administrative burden for small and medium sized enterprises (SME) and occasional importers. Members of the parliament adopted the text by 564 votes in favour, 20 against and with 12 abstentions.
While the changes do not affect large scale importers, including those of cement, they remove the need to pay for CBAM allowances for less than 50t of imports. This will exempt 90% of importers - mainly SMEs and individuals - that import only small quantities of CBAM-effected goods. However, the CBAM’s environmental objectives will reportedly remain achievable, as 99% of total CO2 emissions from imports of cement, iron, steel, aluminium and fertilisers would still be covered.
