Europe's proposed Carbon Border Adjustment Mechanism (CBAM) has been approved by a firm majority in the European Parliament and is expected to help to preserve the region's steel supply chain, industry association Eurofer has said.
On Wednesday March 10, the European Parliament voted on the CBAM resolution, prior to a legislative proposal expected to be published by the European Commission (EC) in June."A carbon border measure complementary to existing carbon-leakage measures would decrease the product-price effect on downstream sectors...