On May 1, 2024, the London Metals Exchange (LME) initiated a consultation process mandating aluminium brand producers, eligible for delivery under its contracts, to furnish carbon emissions data by March 2025. The objective is to synchronise the aluminium market with the stipulations of Europe's Carbon Border Adjustment Mechanism (CBAM), which imposes carbon-related expenses on specific imported goods.
LME-approved primary aluminium producers and aluminium alloy producers, as well as participants in the North American Special Aluminium Alloy Contract (NASAAC), will be required to furnish emissions data for both Scope 1 and Scope 2 to the trading and price-formation venue of choice for industrial metals globally (LME). This clear and straightforward requirement ensures their compliance with the industry's environmental standards.
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