{"id":95883,"date":"2024-03-01T23:39:31","date_gmt":"2024-03-01T21:39:31","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=95883"},"modified":"2024-03-01T23:39:34","modified_gmt":"2024-03-01T21:39:34","slug":"dcarbon-ceo-estimates-cbam-impact-on-egyptian-exports-to-eu","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/dcarbon-ceo-estimates-cbam-impact-on-egyptian-exports-to-eu\/","title":{"rendered":"DCarbon CEO estimates CBAM impact on Egyptian exports to EU"},"content":{"rendered":"\n

DCarbon <\/a>CEO Ehab Shalaby estimated the impact of the EU\u2019s Carbon Border Adjustment Mechanism (CBAM)<\/a> on Egypt\u2019s steel exports to the EU.<\/p>\n\n\n\n

Egypt is a leading Steel producer in the MENA region with nearly 63% of its exports in 2022 were to EU Countries, he said.<\/p>\n\n\n\n

He added these exports reached 560 K tons of steel, noting that current scenario estimates CBAM certificate \u20ac importing 1 T of Steel from Egypt at \u20ac 98 with average currency conversion rate in 2023 at 33.78 Euro to EGP, the total CBAM cost for 2022 exports to EU is at EGP 1.8 million. <\/p>\n\n\n\n

CBAM imposes a reporting obligation and a carbon tax on EU imports of certain goods to reduce carbon emissions.<\/p>\n\n\n\n

In the CBAM definitive period starting January 1, 2026, only the \u201cauthorized CBAM declarants\u201d would be allowed to import the CBAM products to the EU, he noted.<\/p>\n\n\n\n

The price of CBAM certificates would be linked to the weekly carbon prices at the EU Emission Trading System (EU ETS) market, he pointed out.<\/p>\n\n\n\n

He made the remarks during the 14th CSR & Sustainable Development Forum, currently held in the Red Sea resort city Sharm El Sheikh.<\/p>\n","protected":false},"excerpt":{"rendered":"

DCarbon CEO Ehab Shalaby estimated the impact of the EU\u2019s Carbon Border Adjustment Mechanism (CBAM) on Egypt\u2019s steel exports to the EU. Egypt is a leading Steel producer in the MENA region with nearly 63% of its exports in 2022 were to EU Countries, he said. He added these exports reached 560 K tons of […]<\/p>\n","protected":false},"author":410,"featured_media":95884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6044,984],"tags":[],"yoast_head":"\nDCarbon CEO estimates CBAM impact on Egyptian exports to EU - Csr Egypt<\/title>\n<meta name=\"description\" content=\"DCarbon CEO Ehab Shalaby estimated the impact of the EU\u2019s Carbon Border Adjustment Mechanism (CBAM) on Egypt\u2019s steel exports to the EU.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/dcarbon-ceo-estimates-cbam-impact-on-egyptian-exports-to-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DCarbon CEO estimates CBAM impact on Egyptian exports to EU - 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