About this episode

The episode discusses the financial implications of the Carbon Border Adjustment Mechanism as it transitions into its definitive phase in 2026.

Europe moved its Carbon Border Adjustment Mechanism (CBAM) into its definitive phase in January 2026 after two years of emissions-data collection. The definitive phase now requires importers to begin paying for the carbon embedded into a select basket of goods – Iron and Steel, Aluminum, Cement, Fertilizers, Electricity, Hydrogen – when they are produced outside the reach of the EU's Emissions Trading System. S&P Global Energy Expert Max Mucenic joins hosts Hill Vaden and Sam Humphreys to discuss the financial liabilities accruing under this new phase of CBAM and consider potential impacts to the EU economy and its trade partners as payments come due. Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en

People in this episode

Hosts: Hill Vaden, Sam Humphreys

Guest: Max Mucenic

Topics covered

• Carbon Border Adjustment Mechanism
• EU economy
• trade partners
• financial liabilities
• emissions data

Keywords

• CBAM
• carbon pricing
• importers
• EU emissions
• trade impact
• financial liabilities
• goods

Mentioned in this episode

Organizations: S&P Global Energy

Places: Europe, EU

More episodes of EnergyCents

• Talking policy with the US Department of Energy (Ep. 241) · April 23, 2026 · 19 min
• Don't stop believing: ReconAfrica's Namibia Journey · April 16, 2026 · 25 min
• Critical Minerals, Critical Moment: Metals in the Spotlight at CERAWeek (Ep. 239) · April 9, 2026 · 28 min
• Reviewing CERAWeek 2026: Convergence, competition, and concerns about TSA wait times (Ep. 238) · April 2, 2026 · 26 min
• Return of the...Crux: OB3 and tax credits · March 26, 2026 · 38 min
• Contracted offtake: US clean energy procurement set for evolution as market matures (Ep. 236) · March 19, 2026 · 35 min

Explore listener stats, chart rankings, contacts and more on the EnergyCents podcast page.