The Carbon Border Adjustment Mechanism (CABM) is one of the key measures envisaged by the European Green Deal (the EU’s Climate strategy for reaching net zero emissions by 2050) launched in 2019. The proposal for the CBAM was formally submitted by the European Commission in July 2021. It has since progressed to the final stages of the EU legislative process: in December 2022, the Council of the EU and EU Parliament reached a provisional agreement on the final text of the CBAM regulation.