Financial obligations begin in 2026 at 2.5% of embedded emissions, but the share roughly doubles every two years: 10% in 2028, 48.5% in 2030, 100% in 2034. The cash impact in 2030 is ~19× the 2026 level at a constant price.
From our guide: CBAM Explained 2026 — full context, charts and sources there.