EBRD, EU, GCF allocate $4 m to boost green investments in Jordan
The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and the Green Climate Fund (GCF) decided providing a financing ...
DCarbon CEO estimates CBAM impact on Egyptian exports to EU
DCarbon CEO Ehab Shalaby estimated the impact of the EU’s Carbon Border Adjustment Mechanism (CBAM) on Egypt’s steel exports to the EU.
Egypt is a leading Steel producer in the MENA region with nearly 63% of its exports in 2022 were to EU Countries, he said.
He added these exports reached 560 K tons of steel, noting that current scenario estimates CBAM certificate € importing 1 T of Steel from Egypt at € 98 with average currency conversion rate in 2023 at 33.78 Euro to EGP, the total CBAM cost for 2022 exports to EU is at EGP 1.8 million.
CBAM imposes a reporting obligation and a carbon tax on EU imports of certain goods to reduce carbon emissions.
In the CBAM definitive period starting January 1, 2026, only the “authorized CBAM declarants” would be allowed to import the CBAM products to the EU, he noted.
The price of CBAM certificates would be linked to the weekly carbon prices at the EU Emission Trading System (EU ETS) market, he pointed out.
He made the remarks during the 14th CSR & Sustainable Development Forum, currently held in the Red Sea resort city Sharm El Sheikh.
اترك تعليقا