Article

The European Parliament has adopted significant changes to the Carbon Border Adjustment Mechanism (CBAM), reducing the number of firms covered by the regulation by 90% while still addressing 99% of greenhouse gas emissions from CBAM products. EU Climate Commissioner Wopke Hoekstra anticipates finalizing adaptations for exports and expanding the mechanism's scope by the year's end.

The revisions received widespread support, with concerns raised about potential flexibility for U.S. firms. Critics argue that the changes may undermine the system's credibility amid existing economic tensions.