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ENVIRONMENT

Australian commodities to be hit by EU climate tax

THE European Union's proposed Carbon Border Adjustment Mechanism will hit Australian exports of iron ore, steel, aluminium, and coking coal.

paul hunt
The European Union's CBAM tax will hit iron, steel, aluminium, cement and more. Photo by <a href="https://unsplash.com/@guillaumeperigois?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Guillaume Périgois</a> on <a href="https://unsplash.com/s/photos/eu?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>

The European Union's CBAM tax will hit iron, steel, aluminium, cement and more. Photo by <a href="https://unsplash.com/@guillaumeperigois?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Guillaume Périgois</a> on <a href="https://unsplash.com/s/photos/eu?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>

The CBAM is a "essentially a tax," according to the Minerals Council of Australia, targeting imports from countries that have not set a goal to reach carbon neutrality by 2050. Australia is one such...

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