CBAM: Europe has published its first carbon border price
On 1 January 2026, the CBAM — Carbon Border Adjustment Mechanism — entered its definitive phase. European importers in six key sectors (steel, aluminium, cement, fertilisers, hydrogen, electricity) must now buy carbon certificates covering the emissions embedded in their imports.
An official price, for the first time
On 7 April 2026, the European Commission published the first official CBAM price: €75.36 per tonne of CO₂, indexed to the average price of EU ETS allowances. For the first time, a "carbon border tax" has an official, enforceable and payable value.
An extension to roughly 180 downstream products is already scheduled for January 2028, considerably widening the scope of affected companies.
Why it matters for forest carbon
CBAM does not directly concern voluntary credits — it applies to regulated allowances. But its knock-on effect is powerful:
- The price signal goes global. When Europe values a tonne of CO₂ at €75 at its borders, the gap with quality voluntary credits becomes an economic argument for buyers anticipating price convergence.
- Regulatory pressure spreads. CBAM, CSRD, the EU taxonomy: companies are pushed toward documented climate strategies.
- Host countries organise. Several third countries are weighing their own carbon pricing to keep the revenue rather than pay it to Brussels.
CBAM confirms the underlying trajectory: the price of carbon is rising, its scope is widening, and the premium on quality is here to stay.
What to watch
Three milestones shape what comes next: the ramp-up of CBAM obligations over 2026-2027, the extension to downstream products in 2028, and — on the voluntary market — the entry into force of CORSIA's mandatory phase in 2027.