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International Business Times UK
International Business Times UK
Business
Pragati Singh

UK Implements New Carbon Pricing Mechanism to Equalise Imports and Local Production

United Kingdom CBAM
The decision to introduce a carbon border adjustment mechanism (CBAM) is a significant step for the UK, reinforcing its reputation as a leader in decarbonisation

The United Kingdom is set to introduce a pioneering import carbon pricing mechanism by 2027, aimed at bolstering the nation's drive toward decarbonisation.

According to a recent release by the UK government, this initiative will enforce a comparable carbon price on imports of crucial goods such as iron, steel, aluminium, ceramics and cement originating from overseas, ensuring parity with goods produced within the UK.

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