EU’S CARBON BORDER ADUSTMENT MECHANISM MAY IMPACT TEXTILE FINISHERS FROM 2025 AND PROBABLY FROM 2030
July 26th, 2023
The passage into law of the European Union’s (EU) long discussed carbon adjustment mechanism (CBAM) on May 17 (2023) could in future help EU finishing chemical producers sell more product to European textile manufacturers – but costs might rise as a result, impacting overall competitiveness. The CBAM is levy charged on certain imports into the EU deemed to have been manufactured with excessive greenhouse gas emissions (1). And while it will initially be charged on iron and steel, cement, fertilisers, aluminium, electricity, hydrogen and certain metal products ...
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