【SMM Aluminum Flash News】EU Proposes 46% Electrification Target by 2040, Revises ETS and Extends CBAM Free Allowances

Published: Jul 22, 2026 15:06

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The European Commission has proposed raising the EU's electrification rate to 46% by 2040 alongside reforms to the EU Emissions Trading System (EU ETS). The proposal includes an Industrial Decarbonization Bank backed by over EUR 100 billion and plans to slow the phase-out of free emissions allowances for CBAM-covered sectors until 2038. The Commission also plans to allocate an additional EUR 6 billion in free allowances between 2026 and 2030, aiming to strengthen industrial competitiveness while accelerating decarbonization.

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