As part of the European Green Deal the EU has set itself a binding target of achieving a 55% reduction in carbon emissions compared to 1990 levels by 2030, and climate neutrality by 2050. In order to achieve this and as part of the ‘Fit for 55 Package’ of proposals on climate change and energy legislation, the Commission adopted its proposal for a Regulation establishing a Carbon Border Adjustment Mechanism (CBAM).
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