CBAM - On 1 October 2023, the transition phase of the “Carbon Border Adjustment Mechanism” started. The EU Commission has published details of this transition phase, which will apply from 1 October 2023 to 31 December 2025.
During the transitional phase, reporting obligations apply to companies importing goods affected by CBAM. As of 1 January 2026, imports will only be possible with CBAM certificates for which a fee will be charged.
Currently, the product groups cement, iron and steel, aluminium, fertilisers, electricity and hydrogen are subject to the CBAM Regulation. EU importers of these products must declare the volume of their imports. However, no financial adjustments are required at this stage. Importers will have to collect data for the fourth quarter of 2023, but will not have to submit the first report until 31 January 2024. The CBAM structure has been made flexible for the first year of implementation. To this end, there is the option to use default values when reporting "grey" emissions or to apply the monitoring, reporting and verification requirements of the country of manufacture.
The EU offers various aids on CBAM, such as a guide and factsheets.
Links:
Carbon Border Adjustment Mechanism (CBAM) starts to apply in its transitional phase
Source: