For those of you who haven't seen - The European Parliament and European Council have finally reached a provisional agreement on the upcoming EU Carbon Border Adjustment (CBAM) carbon pricing legislation.
You can read their press release here:
https://www.europarl.europa.eu/news/pt/press-room/20221212IPR64509/deal-reached-on-new-carbon-leakage-instrument-to-raise-global-climate-ambition
Still awaiting many key facts, but there are three important new details to note:
1. The regime will apply from 1 October 2023, with a transition period (free allocation phase-out period yet to agreed)
2. The scope will be extended to hydrogen and some downstream products, while some indirect emissions will need to be reported
3. The European Commission will now be in charge of governance of the regime
