Brussels confirms first CBAM certificate price for Q1 2026 at Eur75.36/mtCO2e

The first quarterly price for the EU's Carbon Border Adjustment Mechanism certificates was set at Eur75.36/metric tons of CO2 equivalent, establishing the carbon cost that importers will face for goods brought into the EU during Q1 2026, the European Commission said April 7.

The price reflects the average closing price of EU Emissions Trading System allowances auctioned during January-March 2026 through the European Energy Exchange, ensuring imported carbon-intensive goods face similar costs to domestic EU products.

Importers will need to purchase CBAM certificates starting in February 2027 to cover emissions embedded in goods imported during 2026, aligning import costs with the carbon price paid by domestic producers under the EU ETS.

EUAs have slumped by almost Eur30/mtCO2e in Q1 after several member states called for watering down the EU ETS to boost the bloc's industrial competitiveness.

Platts, part of S&P Global Energy, assessed EU Allowances for Q1 2026 at Eur77.638/mtCO2e, down from Eur81.444/mtCO2e in Q4 2025. CBAM's carbon levy mirrors the EU Emission Allowance price. Platts assessed EUAs for the December 2026 contract at Eur72.12/mtCO2e on April 2.

The definitive phase of CBAM began Jan. 1, 2026, following a transitional reporting period. The mechanism targets imports of goods from the iron and steel, aluminum, cement, hydrogen, fertilizers and electricity sectors, aiming to prevent carbon leakage where companies relocate production to regions with weaker climate policies.

The quarterly pricing structure applies only to 2026, with the Commission set to calculate and publish prices for the second, third and fourth quarters on July 6, Oct. 5 and Jan. 4, 2027, respectively.

From February 2027, CBAM certificate pricing will shift to a weekly calculation reflecting the volume-weighted average of EUA auction clearing prices, the commission said. All certificates will be purchased through a common central platform from that date, under Article 20 of the CBAM regulation.

The commission launched a tender in March to establish the platform, which will manage the sale and repurchase of CBAM certificates. The tender remained open until April 6.