Recently introduced by the European Union (" EU "), carbon border adjustment mechanism (" CBAM ") applies to imports into the EU from "third countries" ( i.e. . from non-EU countries) with the broad aim of reducing carbon emissions. emissions and promoting the EU's climate objectives. Long before the adoption of the CBAM in May 2023, the EU launched the world's first carbon market in 2005 and introduced the Emissions Trading System (hereinafter referred to as the "ETS"). ETS " and the EU ETS, " EU ETS "). (More at lexology.com)