Yesterday, the European Commission declared the implementation of reporting regulations targeting importers involved in the Carbon Border Adjustment Mechanism (CBAM). This system represents the European Union's fresh approach to imposing a carbon tax on imported commodities, intended to align the carbon expenses borne by European manufacturers with their global counterparts.

The new rules will require companies to begin collecting data on the embedded emissions of imported products in October of this year, with reporting beginning by the end of January 2024, and will apply through the transitional phase of CBAM, which runs until the end of 2025.

Below you can find the newly updated Guidelines. Our experts will talk you through the insight of this document, and other CBAM related news in the upcoming weeks.

Do you want to stay up to date of all the developments? Then we highly recommend to subscribe to our newsletter.

Click here to download the New Guidance Document on CBAM

Source: European Commission

18 Aug 2023 at 9:31 am

1 min