The current economic context re-enforces the case for a watertight CBAM with a cautious free allocation phase-out and a tangible export solution. Five European industry associations, including European Aluminium and the European Association of Metals (Eurometaux), have issued a joint statement in response to planned stricter EU regulations to speed up Europe's transition to climate neutrality. In its Fit for 55 in 2030 package, the European Union pledges to cut net carbon emissions by 55 by 2030, to extend the Emissions Trading System (ETS) to more sectors and to impose a new levy on imports under the Carbon Border Adjustment Mechanism (CBAM) to prevent carbon leakage. Below, the joint statement.
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