EU, Urso: Inclusion of Cbam revision in Compass is positive, we must proceed with revision of Co2 regulation
Rome, January 29, 2025 – The inclusion of the revision of the Carbon Border Adjustment Mechanism (CBam) in the European Commission’s Compass is a positive step, said Italy’s Minister for Enterprise and Made in Italy Adolfo Urso. “We need to continue to work on the revision of the EU Emissions Trading System (ETS) regulation,” he added.
The revision of the Cbam is part of the broader Green Deal package, which aims to make the EU’s economy carbon-neutral by 2050. The Cbam is a levy on imports of goods from countries with less stringent climate policies, designed to level the playing field for European businesses and prevent carbon leakage.
The European Commission presented its Compass proposal on January 25. The proposal includes a number of measures to accelerate the EU’s transition to a green economy, including the revision of the Cbam.
“The inclusion of the Cbam revision in the Compass is a positive step,” said Urso. “It shows that the Commission is committed to addressing the issue of carbon leakage and ensuring that the EU’s climate policies are fair and effective.”
Urso also stressed the need to continue working on the revision of the EU ETS regulation. “The ETS is a key tool for reducing emissions in the EU,” he said. “We need to ensure that the regulation is fit for purpose and that it helps us to achieve our climate goals.”
The revision of the EU ETS regulation is expected to be presented by the European Commission in the coming months. The proposal is likely to include a number of measures to strengthen the ETS, including increasing the carbon price and reducing the number of free allowances allocated to businesses.
About the Cbam
The Cbam is a levy on imports of goods from countries with less stringent climate policies. The levy is designed to level the playing field for European businesses and prevent carbon leakage.
The Cbam is expected to come into effect in 2026. The levy will initially apply to a limited number of sectors, including iron and steel, cement, fertilizers, and electricity. The scope of the Cbam is expected to be expanded in the future to include other sectors.
About the EU ETS
The EU ETS is a cap-and-trade system that covers emissions from power plants, industrial installations, and airlines. Under the ETS, businesses are required to purchase allowances for each ton of CO2 they emit.
The EU ETS is the world’s largest carbon market. The system has been successful in reducing emissions in the EU. However, the ETS has also been criticized for being too lenient on businesses and for failing to address the issue of carbon leakage.
Ue, Urso: Bene inserimento revisione Cbam in Bussola, portare avanti revisione regolamento Co2
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