This week in CBAM: the European Commission published the first official CBAM certificate price at €75.36 per tonne of CO₂ for Q1 2026, marking a landmark moment as CBAM transitions from a reporting framework into a real cost mechanism. Meanwhile, EU working groups continued early-stage discussions on potentially expanding CBAM's scope to downstream products and strengthening anti-circumvention rules.
1. First CBAM Certificate Price Published: €75.36 per Tonne of CO₂
On 7 April 2026, the European Commission published the first official CBAM certificate price for Q1 2026, setting it at €75.36 per tonne of CO₂. The price is based on the quarterly average of EU ETS auction clearing prices and represents the first real financial benchmark for importers under the definitive CBAM regime.1, 2
This publication is a significant milestone: it moves CBAM from a purely administrative and reporting exercise into a mechanism with a concrete, quantifiable cost attached to embedded emissions. Although importers will not need to purchase CBAM certificates until February 2027, the published price allows organisations to begin modelling their financial exposure, adjusting procurement strategies, and preparing budgets accordingly.2
For the remainder of 2026, certificate prices will continue to be published on a quarterly basis, with the next price (Q2) due on 6 July 2026. From 2027 onwards, the Commission will switch to weekly average ETS prices as the basis for CBAM certificate pricing.2
We covered this topic in more detail in our dedicated article: First CBAM Certificate Price: €75.36/tCO₂ for Q1 2026.
2. Ongoing EU Discussions on Scope and Enforcement
Beyond the certificate price publication, most CBAM-related activity during the week remained in early-stage discussions within EU working groups. These talks are taking place between the European Commission (DG TAXUD and climate units) and Member State representatives in the Council of the European Union.1
Two topics were under discussion:
- Potential inclusion of downstream products in CBAM scope: Policymakers are considering whether CBAM should cover not only raw materials such as steel and aluminium, but also processed or semi-finished goods further down the value chain. This would address concerns about carbon leakage shifting to downstream products that are currently outside CBAM's scope.
- Strengthening anti-circumvention rules: Discussions also focused on tightening rules to prevent importers from avoiding CBAM obligations through product reclassification or supply chain restructuring.
No formal proposals or policy changes have been adopted. These remain in a talking phase, but they reflect ongoing concerns within the EU about enforcement gaps and the risk of carbon leakage further down the value chain in the current CBAM design.1
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