Aluminium industry needs CBAM to help finance decarbonization, Century CEO says

The aluminium industry needs to support the introduction of a Carbon Border Adjustment Mechanism (CBAM) to help finance the sector's push to decarbonization, the chief executive officer of United States-based Century Aluminum said.

Jesse Gary told the virtual Goldman Sachs global metals and mining conference that a CBAM would need to be extended to cover scope 2 emissions to create the pricing response to drive the returns necessary for this transition.
"Going forward we're big fans of CBAM - we think it makes a lot of sense, we think it has the potential to drive some of the response," he told the conference on Thursday November 18.
"But we probably need to see it [CBAM] roll out with a little stricter implementation and make sure we're focusing on scope 2 as well as scope 1, and ultimately scope 3, emissions," he said.

The European Union is planning to introduce a CBAM from 2023, under which European Union importers will buy carbon certificates corresponding to the carbon price that would have been paid had the goods been produced under the EU's carbon-pricing rules....

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