The Libyan Industrial Union (LIU) yesterday alerted its members to the European Carbon Border Adjustment Mechanism (CBAM) which it says will come into force in 2026.
The CBAM will impose a tax on certain imported goods with high carbon emissions. The first phase of this measure will cover specific sectors, most notably iron, cement, fertilizers, and aluminium.
The LIU said in preparation for the repercussions of this decision, several Libyan entities have begun taking practical steps to mitigate its potential impact. These include the committee formed by the Ministry of Industry and Minerals, which includes the LIU, along with the technical team at the Libyan Iron and Steel Company, which has significant experience in this field.
Given the novelty of this topic and the complexity of its implementation mechanisms, especially in its early stages, the committee has enlisted the help of specialized international consultancies to introduce the concept of carbon foot printing and conduct an initial simulation within a number of selected Libyan institutions.
In this regard, the LIU offered support and assistance to members through this international consultancy to help prepare them for the implementation by the EU of the CBAM in 2026.
