What effects does the Carbon Border Adjustment Mechanism (CBAM) have on me?

Agile Advisors provide Carbon Border Adjustment Mechanism, in order to comprehend CBAM and its introduction, it is first necessary to grasp that Emission Trading Schemes (ETS) were established several years ago in a number of markets (such as the EU, UK, USA, etc.) with the purpose of essentially "taxing" high intensity energy consuming companies within those markets. This was done in an effort to promote a reduction in carbon emissions, and sectors covered by these ETSs included those that produced cement, electricity, iron, and steel. Producers in the EU subject to an ETS then had to pay more for their products to be produced compared to producers in other markets without an ETS or whose ETS had a lower carbon price. This essentially indicates that producers located outside of the market may be able to outbid those within it. It offers businesses a chance to show their commitment to the global climate goals and to take the lead in sustainability. It also poses a challenge.