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In July 2021, the European Commission (EC) announced a proposal to implement a聽Carbon Border Adjustment Mechanism聽(CBAM) on energy-intensive imports from third countries. The proposed CBAM would initially apply to five sectors: electricity, iron and steel, fertilisers, aluminium and cement. However, its scope could be extended to include indirect emissions and other goods and services.
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Implications of the EU鈥檚 Carbon Border Adjustment Mechanism for Commonwealth members in the Asia-Pacific region