The European Parliament approved an amendment to the Carbon Border Adjustment Mechanism (CBAM) that allows outermost regions, such as Madeira, to benefit from a temporary derogation from the application of this mechanism to certain products. This vote represents a recognition of the geographical and economic specificities of these European regions.
The amendment proposal was co-signed by Madeiran socialist MEP Sérgio Gonçalves, who played an active role in defending the interests of outermost regions in the context of this European legislation.
The measure obtained support from members of different political families, demonstrating broad consensus on the need to adapt the CBAM to the specific realities of regions that find themselves in particular situations within the European Union.
CBAM is a mechanism that aims to adjust carbon prices on imports to prevent carbon leakage, and the approved derogation acknowledges that its full application could represent disproportionate challenges for territories with specific characteristics such as Madeira.
