Fertilizers Europe speaks out on the EU's CBAM mechanism

Source: worldfertilizer.com Image: balkangreenenergynews.com The trade organization Fertilizers Europe acknowledges the efforts of the European Union (EU) to ensure the proper implementation of the Carbon Border Adjustment Mechanism (CBAM), a mechanism designed to prevent "carbon leakage" and create a level playing field for businesses. On December 17, the European Commission announced a new CBAM proposal. However, according to Fertilizers Europe, this proposal does not provide a real solution for EU-based exporting companies. The Temporary Decarbonisation Fund is said to not address the competitive disadvantage that EU producers face in the global market. At the same time, the implementation is being "watered down," such as applying a fixed 1% surcharge on the default values of fertilizers, which will significantly weaken the effectiveness of CBAM and make it difficult for the mechanism to achieve its stated objectives. Antoine Hoxha, Director General of Fertilizers Europe, said ...