Tag: European Commission proposes extending ETS free allowances for CBAM sectors until 2038

The European Commission has proposed amendments to the European Union Emissions Trading System (EU ETS), extending the phase-out of free carbon allowances for sectors covered under the Carbon Border Adjustment Mechanism (CBAM), including steel, until 2038. Under the previous framework, free allocations were scheduled to be fully phased out by 2034. The proposed revision, announced…