Since Brexit, both the UK and EU have adopted separate emissions trading schemes (ETS) where major polluters trade allowances to emit carbon dioxide.

UK exporters are concerned about future costs as the UK’s carbon price is currently lower than the EU’s ETS.

Additionally, both regions are preparing to implement a Carbon Border Adjustment Mechanism (CBAM) to tax imported goods like steel based on their carbon emissions during production. This aims to shield UK and EU manufacturers from competition with global rivals benefiting from lax environmental standards.

Timing is critical: the UK’s CBAM is slated for launch in 2027, a year after the EU’s. There are fears that the UK could become a temporary dumping ground for iron and steel products seeking to avoid the EU’s CBAM.

Key topics include:

• Overview of EU CBAM, reporting obligations, and timeline
• Business preparations for potential impacts and reporting requirements under EU CBAM
• UK CBAM developments and disparities with EU CBAM
• Strategic and operational considerations amidst decarbonisation and sustainable business practices
• Immediate actions for affected businesses