With which region is the Carbon Border Adjustment Mechanism associated?

Europe has started keeping an eye on its steel imports in an effort to discourage the purchase of goods that are the byproduct of high-carbon production processes. The decision is anticipated to hurt Indian steel exporters whose furnaces depended on dirty coking coal as a feedstock. India is moving toward green steel, even though there is not an immediate impact thanks to Europe's Carbon Border Adjustment Mechanism. On October 1, 2023, CBAM went into effect in its transitional phase.