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The Carbon Border Adjustment Mechanism: Reshaping Global Trade for a Greener Future
As the urgency to combat climate change intensifies, the European Union is taking bold steps to create a more sustainable future. One of the most significant initiatives for this is a broader commitment by the EU to achieve climate neutrality by 2050 known as the Carbon Border Adjustment Mechanism, or CBAM, which will have far-reaching implications for companies importing goods into the EU. This blog post will explain what CBAM is, its key dates, why it’s important, its implications for businesses and international trade, and how your company can stay ahead to maintain compliance.