商务部新闻发言人就欧盟碳边境调节机制有关问题答记者问。 问：欧盟碳边境调节机制（CBAM）于2026年1月1日起正式实施，欧盟近日密集发布CBAM相关立法提 案与实施细则，请问商务部对此有何评论？ 答：中方注意到，欧盟近日密集发布CBAM相关立法提案与实施细则，包括设定碳排放强度默认值、计 划扩大产品覆盖范围等内容。其中，欧方无视中国绿色低碳发展取得的巨大成效，对中国产品碳排放强 度设定显著偏高的基础默认值，并将在未来三年内逐年提高，这不符合中国当前实际水平和未来发展趋 势，对中方构成不公平、歧视性待遇。欧方有关做法不仅涉嫌违反世界贸易组织"最惠国待遇"和"国民 待遇"等原则，也有悖于《联合国气候变化框架公约》确立的"共同但有区别的责任"原则。 欧盟还提出立法草案，计划从2028年起将CBAM范围扩展至包括机械装备、汽车及其零部件、家用电器 等约180种钢铝密集型下游产品。这些规则设计已超出应对气候变化范畴,带有明显的单边主义与贸易保 护主义色彩，中方对此表示严重关切和坚决反对。 中方还注意到，欧盟最近修改了2035年燃油新车禁令，放宽对盟内的绿色监管。欧方一方面对外以绿色 为名搞保护主义，另一方面对内放松监 ...

记者丨 雷椰 李德尚玉 编辑丨李博 欧盟"碳关税"真的要落地了！ 2026年1月1日起，欧盟碳边境调节机制（CBAM）正式进入"收费期"，钢铁、水泥、铝、化 肥、电力和氢6类产品先被纳入。但这只是开始，按欧盟委员会方案，到2028年，CBAM覆盖 范围拟将扩大至洗衣机、汽车零部件、机械设备等在内约180种钢铁和铝密集型下游产品。 一场从原材料延伸到成品的"绿色账单"正在逼近。业内人士向21世纪经济报道记者表示，业内 人士表示，欧盟碳边境调节机制（CBAM）对不同产品覆盖的排放存在差异。得益于豁免门 槛，实际付费义务将集中在与大型欧盟进口商合作的企业。面对新规，中国相关企业需尽快建 立差异化的碳排放数据管理体系，而中国在低碳转型方面的先发优势与产业提前布局，将有助 于企业在更严格的绿色贸易壁垒中保持竞争力。 欧盟"碳关税"进入收费期 历经多年推进与调整，CBAM的产品覆盖范围与执行节奏已逐步明晰。2022年12月12日，欧 盟理事会和欧洲议会达成临时协议之后，CBAM的产品范围确定覆盖钢铁、水泥、铝、化肥、 电力和氢这六种产品，并且每一种产品都通过欧盟海关税则号（CN code）给出了清晰准确的 范围。 1. ...

2026年1月1日，欧盟碳边境调节机制（CBAM）将正式迈入强制征收阶段，这是全球首个跨境碳关税制 度。随着实施时间的临近，这一被欧盟称为"应对碳泄漏的必要工具"的机制，经历两年多的过渡期后， 将从柔性过渡转为刚性约束。 CBAM主要是为进口商品的"嵌入碳"进行定价，确保非欧盟生产商与欧盟企业承担同等碳成本。根据其 规则要求，钢铁、水泥、铝、化肥、电力和氢气六大类303种高耗能产品的欧盟进口商，需按季度申报 产品生产环节的碳排放量，并依据欧盟碳排放交易体系（ETS）的周均拍卖价格购买相应的CBAM证 书。 根据欧盟委员会的安排，2023年10月，CBAM启动过渡期政策，在过去两年多时间里，CBAM主要进行 了"数据收集和系统测试"工作。欧盟委员会最新报告显示，已有数万家进口商在CBAM过渡期登记系统 中完成注册，累计提交了数十万份产品碳排放报告。 一位国际税研究人员对《中国经营报》记者表示，根据规则，过渡期内，进口商不需要实际购买CBAM 证书和缴纳碳关税，但需要履行基本的碳排放申报义务。过渡期结束后，即2026年1月1日开始，进口商 必须为其进口的钢铁、铝、水泥、化肥、电力、氢气及特定下游产品购买CBAM证 ...

波黑媒体Klix12月12日报道。2026年1月28日至30日期间，萨拉热窝将举办第四届萨拉热窝能源论坛 (SEF2026)。本届论坛将围绕西巴尔干地区生态与能源一体化的关键议题展开深度讨论。核心议题包 括：如何通过互联电网、更清洁的环境和更具韧性的区域合作，建设更稳健、更清洁、更现代化的区域 能源体系。论坛将设置专题讨论当前全球热点——能源存储，将电池系统视为新的"能源货币"和重大技 术趋势之一。 此外，论坛将分析塑造欧洲与中国市场的电动出行趋势，讨论正在改变公众能源生产与消费观念的"产 消者"，并聚焦风能潜力、天然气互联及本地区能源安全等议题。 除专题讨论外，SEF2026将与全球知名展会"Solarex伊斯坦布尔"及波黑外贸商会合作，举办规模盛大的 能源、电动出行、技术与创新博览会，展示从先进太阳能解决方案、电池系统到工业数字化、智慧城市 及电动出行的全球最新成果。(驻波黑使馆经商处) 特别关注点将放在产业和机构为应对2026年起实施的欧盟碳边境调节机制(CBAM)所做的准备，探讨新 碳限制对报告义务、竞争力及欧盟市场准入的影响。议程还将涵盖智慧城市在现代都市发展与数字化能 源管理中的角色，购电协议模式 ...

Core Viewpoint - Green development is emphasized as a fundamental aspect of China's modernization, with a focus on achieving carbon peak and expanding the national carbon emissions trading market [1] Group 1: National Carbon Emissions Trading Market - The national carbon emissions trading market has been operational for four years, covering over 2,200 key emission units in the power sector, making it the largest carbon market globally in terms of greenhouse gas emissions coverage [1] - The market's design optimization and the relationship between local pilot markets and the national unified carbon market are critical issues that need to be addressed [1][2] - The carbon price fluctuations reflect the market's sensitivity to policy changes, with significant price movements observed around compliance deadlines [3][4] Group 2: Local Carbon Markets - Local carbon markets have provided valuable experience for the national carbon emissions trading market, but they should not disrupt the national market's construction and must complement it [2] - Local pilot markets can focus on managing small and medium-sized enterprises and explore total carbon emission quota controls tailored to local needs [2] Group 3: Carbon Price Dynamics - Carbon price fluctuations are normal, with the market currently being a compliance-driven one, where prices have shown a pattern of rising before compliance deadlines and stabilizing afterward [3][4] - Recent policies, such as the allocation and transfer of quotas, may lead to increased supply and potential price declines [4] Group 4: Market Stability and Risk Management - Establishing a robust market adjustment mechanism is essential to stabilize carbon prices and address market issues, emphasizing the need for transparency and stability in policies [5] - The involvement of financial institutions in the carbon market is encouraged, but it requires the establishment of sound trading and risk management systems [6] Group 5: Preparation for EU Carbon Border Adjustment Mechanism - Companies should prepare for the EU's Carbon Border Adjustment Mechanism by enhancing their carbon trading systems and ensuring accurate carbon footprint calculations [6][7] - Businesses are advised to adopt low-carbon practices and develop internal carbon management systems to effectively track emissions and identify reduction opportunities [7]

Core Insights - Bosnia's energy sector is undergoing significant transformation and facing serious challenges, as highlighted by the chairman of the CIGRE conference, Zijad Bajramovic [1] Energy Production and Investment - Despite a decline in coal production and unfavorable hydrological conditions last year, investments in renewable energy generation have seen substantial growth [1] - Bosnia plans to construct approximately 1500 megawatts of solar and wind power capacity over the next three years, with an expected annual generation of about 3 terawatt-hours [1] Infrastructure and System Risks - The electricity grid structure in Bosnia is projected to face risks of system congestion and instability, with an estimated need for around 1.4 billion marks for upgrades to the transmission and distribution systems by 2030 [1] Regulatory Developments - Starting from early 2026, the EU Carbon Border Adjustment Mechanism (CBAM) will fully impact Bosnia's electricity exports [1] - Bosnia has committed to establishing a power exchange and a carbon emissions trading system, with the recently passed Electricity Regulation, Transmission, and Market Law being a crucial step towards integrating with the European electricity market and avoiding CBAM taxation before 2030 [1] Conference Participation - The energy conference has over 500 engineers and experts from Bosnia, Croatia, Slovenia, and Serbia, focusing on topics such as electrification of transport, large-scale application of heat pumps, battery system investments, and development in industrial and service sectors [1]

Core Viewpoint - Bosnia and Herzegovina's Republika Srpska has signed multiple energy cooperation agreements with a total investment of approximately 5 billion marks, focusing on a capacity of about 2,170 megawatts, establishing itself as a stable investment destination for renewable energy [1] Group 1: Investment Agreements - The total investment amount for the signed energy cooperation agreements is around 5 billion marks [1] - The agreements involve a total installed capacity of approximately 2,170 megawatts [1] Group 2: Regulatory Framework - The Minister of Energy and Mining emphasized that Republika Srpska has enacted five laws aligned with EU regulations, creating a stable legal framework for renewable energy investments [1] - The region is positioned as a "safe investment destination" due to its compliance with EU standards [1] Group 3: EU Carbon Border Adjustment Mechanism (CBAM) - The Minister highlighted concerns that the EU's CBAM could severely impact the local economy and argued for a reasonable delay in its implementation from January 1, 2026 [1] - The region has met EU requirements through the adoption of the Electricity Regulatory Agency, Transmission, and Market Law [1] Group 4: Infrastructure Investment - There is a need to enhance investment in the transmission network alongside the construction of power generation facilities, which is viewed as a regional issue [1] - Stable energy transmission is deemed essential for sustainable energy development and reliable electricity supply across the Western Balkans [1] Group 5: Bilateral Meetings - During the conference, the Minister held bilateral talks with several interested companies, indicating active engagement with potential partners [1] - The event included participation from various representatives, including the Italian ambassador to Montenegro and the chairman of the Serbian Energy Agency [1]

Core Viewpoint - The 2025 Gulangyu Forum on ESG and Sustainable Industrial Development Innovation successfully held in Xiamen focused on "Building Digital Product Passports to Support Sustainable Trade Development" and aimed to enhance the international sustainable trade system through collaborative initiatives [1][3][29]. Group 1: Forum Overview - The forum attracted over 400 participants from government, international organizations, industry think tanks, and leading enterprises to discuss the current status and trends of sustainable trade [1][3]. - The event was co-hosted by various organizations, including the Xiamen Municipal Government and the Green Finance 60 Forum (GF60), highlighting the collaborative effort in promoting sustainable trade [1][3]. Group 2: Key Discussions - Experts emphasized the importance of Digital Product Passports (DPP) in enhancing supply chain resilience and sustainable trade, with the EU set to implement DPP requirements by February 2027, making it essential for exporting companies [6][8]. - The forum addressed the intersection of international trade and climate policy, particularly through mechanisms like the EU Carbon Border Adjustment Mechanism (CBAM), which taxes imports based on carbon content [8][10]. Group 3: Initiatives and Recommendations - The "Gulangyu Initiative" was launched to promote international cooperation, fair trade, and sustainable development, calling for a collaborative approach to build a credible trade system [29][31]. - Recommendations included government support for enterprises to prepare for DPP requirements, financial institutions providing green credit for technological upgrades, and companies updating products to meet new EU standards [15][19]. Group 4: Industry Perspectives - Various industry leaders discussed the need for enhanced carbon transparency and the establishment of a unified carbon footprint standard to improve competitiveness in the international green trade system [38][40]. - The integration of digital technologies and low-carbon solutions was highlighted as a pathway for industries to achieve sustainable development and meet international trade requirements [22][42].

Group 1 - Bosnia and Herzegovina is currently the only country in Europe without an established electricity exchange, despite the government's efforts to create a unified market regulatory framework in line with EU energy regulations [1] - The draft law for electricity regulation has not yet been submitted to the Bosnian parliament, and its approval by the end of this year remains uncertain, with the earliest possible establishment of an electricity exchange projected for the second half of 2026 [1] - The country has seen a fourfold increase in electricity imports in the first half of this year, indicating a shift from being an exporter to an importer due to policy failures and delays in renewable energy infrastructure development [1] Group 2 - Establishing an electricity exchange in Mostar could facilitate connections with neighboring markets, which is essential for Bosnia to qualify for EU carbon border adjustment mechanism (CBAM) tariff exemptions by 2030 [2] - The development of renewable energy projects, such as the large wind farm in Tomislavgrad and a planned 400 MW project in Glamoč, is insufficient to address the energy supply issues and attract more foreign investment [1]

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core Views - PTA: The early maintenance devices of PTA are gradually restarting, and the polyester load downstream is decreasing, weakening the support for PTA from the supply - demand side. The spot price of PTA will fluctuate weakly, while the spot basis will run strongly in the short - term due to tight spot supply, with an expected decline as supply returns. Attention should be paid to the progress of new PTA device production and changes in downstream polyester load [6]. - MEG: After the Dragon Boat Festival, the port inventory of ethylene glycol is expected to decline significantly, and the inventory in Zhangjiagang's mainstream trade tanks is likely to fall within 200,000 tons. The tradable spot of ethylene glycol in June remains tight, and the spot basis will mainly run strongly. The medium - and short - term supply - demand structure of ethylene glycol is favorable, supporting its price. Attention should be paid to changes in polyester load [7]. - Influencing Factors: The maintenance season of raw materials such as PTA and ethylene glycol leads to supply contraction, with an expected inventory reduction of over 500,000 tons in the second quarter, supporting price rebounds. However, the EU's Carbon Border Adjustment Mechanism (CBAM) will levy taxes on polyester products starting in 2025, increasing export costs by 8% - 12%. The average domestic polyester operating rate is 85%, with some small and medium - sized enterprises below 70%, and the inventory days of filament and staple fiber are approaching historical highs [9][10]. 3. Summary by Directory 3.1前日回顾 No information provided in the report. 3.2每日提示 - **PTA** - Fundamental: The PTA futures fluctuated and closed higher yesterday. The spot market negotiation atmosphere was fair, the spot basis was strong, and individual polyester suppliers made bids. The mainstream spot basis today is 09 + 220 [6]. - Basis: The spot price is 4,855 yuan/ton, the basis of the 09 contract is 235, and the futures price is at a discount to the spot, indicating a bullish signal [6]. - Inventory: The inventory of PTA factories is 4.03 days, a week - on - week increase of 0.01 days, indicating a bearish signal [6]. - Disk: The 20 - day moving average is downward, and the closing price is below the 20 - day moving average, indicating a bearish signal [6]. - Main Position: The net long position is decreasing, indicating a bullish signal [6]. - **MEG** - Fundamental: On Thursday, ethylene glycol weakened and declined. The market negotiation was fair. The night - session opened higher and then fell back, with cautious buying. The market continued to be weak during the day, and the spot price dropped to around 4,315 yuan/ton in the afternoon [8]. - Basis: The spot price is 4,347 yuan/ton, the basis of the 09 contract is 113, and the futures price is at a discount to the spot, indicating a bullish signal [8]. - Inventory: The total inventory in East China is 553,800 tons, a week - on - week increase of 43,200 tons, indicating a bullish signal [8]. - Disk: The 20 - day moving average is downward, and the closing price is below the 20 - day moving average, indicating a bearish signal [8]. - Main Position: The net short position is decreasing, indicating a bearish signal [8]. 3.3今日关注 No information provided in the report. 3.4基本面数据 - **PTA Supply - Demand Balance Sheet**: It shows the PTA production capacity, load, output, import, total supply, polyester production, consumption, and other data from January 2024 to December 2025 [12]. - **Ethylene Glycol Supply - Demand Balance Sheet**: It shows the ethylene glycol production capacity, load, output, import, total supply, polyester production, consumption, and other data from January 2024 to December 2025 [13]. - **Price Data**: It includes the spot prices of naphtha, p - xylene, PTA, ethylene glycol, polyester filaments, and polyester staple fibers, as well as the futures prices and basis of PTA and ethylene glycol on June 12, 2025, and their changes compared with June 11 [14]. - **Inventory Data**: It shows the inventory data of PTA, ethylene glycol, PET chips, polyester filaments, and polyester staple fibers, including factory inventory days and port inventory [43][45][52]. - **Operating Rate Data**: It shows the operating rates of PTA, p - xylene, ethylene glycol, polyester factories, and Jiangsu - Zhejiang looms from 2020 to 2025 [54][56][58][60]. - **Profit Data**: It shows the processing fees of PTA, the production profits of ethylene glycol from different raw materials, and the production profits of polyester filaments and polyester staple fibers from 2022 to 2025 [62][65][67].