GT9 – The EU CBAM after the French Presidency: a state of play
As part of the “Fit for 55” package of measures intended to decrease EU greenhouse gas emissions by 55% by 2030, a major step was taken by the European Parliament on 22 June 2022 through its vote on a new EU Carbon Border Adjustment Mechanism (CBAM).
This follows on the European Commission’s proposal of July 2021 and an agreement within the Council in March 2022, complemented by its decision on the reform of the European Trading Scheme (ETS) on 28 June 2022.
The French Presidency of the Council had made CBAM one of its highlight priorities. These first reading’s agreements of the two EU co-legislators represent a clear achievement.
As the EU institutions head into trilogue negotiations in the autumn, we take stock of the progress reached so far and assess the respective positions of the three institutions in light of a set of key principles.