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<p>The government has recently consulted on potential future measures to mitigate
carbon leakage risks, including the potential for a UK Carbon Border Adjustment Mechanism
(CBAM). The consultation closed on 22 June 2023, and the government will respond to
the consultation in due course.</p><p><strong> </strong></p><p>In May 2023, the EU
formally adopted their EU CBAM Regulation, which will start with a transitional (reporting)
phase from 1 October 2023. The EU CBAM charge will not come in until 1 January 2026.</p><p>
</p><p>Full details of the EU CBAM will be known when the EU adopt the required implementing
and delegated acts. UK officials are continuing to closely monitor this process and
are waiting to see these before building a full understanding of potential impacts
on UK businesses and any interactions with domestic policy</p><p> </p>
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