The UK government has released a factsheet, produced from a consultation at the back end of 2023, that outlines a pending carbon tax legislation to be introduced in 2024 – the legislation will then enter operation in 2027. Essentially this is the UK’s version of the Carbon Border Adjustment Mechanism (CBAM) that the EU will implement much sooner than that. The UK CBAM will place a carbon price on some of the most emissions intensive industrial goods imported to the UK from the aluminum, cement, ceramics, fertilizer, glass, hydrogen, iron and steel sectors. When it comes to steel and hydrogen, Rethink has already conducted a lot of research into these sectors and concluded that one of the most important factors in their…