MACF (Carbon Border Adjustment Mechanism)
European carbon tax at borders aimed at preventing carbon leakage from imports of CO₂-intensive products.
MACF — Carbon Border Adjustment Mechanism (CBAM)
The MACF (or CBAM in English — Carbon Border Adjustment Mechanism) is a European Union instrument that imposes a carbon price on imports of certain carbon-intensive products.
Objective
Avoid “carbon leaks” by aligning the carbon cost of imports with that borne by European producers subject to the Emissions Trading System (EU ETS).
Products affected
Iron and steel, aluminum, cement, fertilizer, electricity and hydrogen. Other products may be added later.
Calendar
- Transitional phase (2023-2025): reporting obligations only
- Definitive phase (from 2026): purchase of MACF certificates corresponding to incorporated emissions
Obligations of importers
Importers must report emissions embodied in imported products, purchase corresponding MACF certificates (in final phase), and be registered as authorized MACF reporters.
Business impact
The MACF changes the economic equation for imports of products with a high carbon footprint and encourages non-EU suppliers to decarbonize their production.