On May 10th, 2023, the European Union approved the new Regulation "establishing a Carbon Border Adjustment Mechanism" (CBAM) for greenhouse gas emissions implicit in goods imported into the customs territory of the Union.
 

This is a complementary and preventive measure, the purpose of which is to ensure a carbon equivalent pricing system for imports and domestic products, in order to reduce greenhouse gas emissions.

With this mechanism, the EU wants to oblige non-European importers of certain goods to acquire certificates equivalent to the carbon price they would have had to pay if those same goods had been produced within the EU, in a way that guarantees that the carbon price of the products will be the same, regardless of where they have been produced. 
 

Goods shall be imported into the customs territory of the Union only by a declarant authorized for the purposes of CBAM.
 

It remains for the Commission to adopt implementing acts laying down detailed requirements for the application of CBAM to the goods to which it will apply.