What is CBAM?

Questions › Category: Carbon Footprint › What is CBAM?

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Vikram Dhar asked 1 year ago

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What is CBAM?

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What is CBAM?

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Discover the meaning and significance of CBAM introduced by the European Union in an effort to combat climate change.

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Team GreenSutra

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GreenSutra

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Question Tags: actonclimate, carboncredits, carbonfootprint, carbonoffsets, carbontax, climatechange, climatechangeisreal, eu, globalwarming, greensutra, india

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Team GreenSutra® Staff answered 1 year ago

The European Union introduced the CBAM officially on 16th May 2023.
CBAM stands for the Carbon Border Adjustment Mechanism.
The Carbon Border Adjustment Mechanism is the European Union’s tool that will enable to quantify a fair price on the Carbon emitted during the production of carbon intensive goods that are entering the EU.
The intent behind the introduction of the CBAM is to encourage sustainble industrial production in Non-EU countries.