Have you heard of the upcoming Carbon Border Adjustment Mechanism (CBAM)? The answer should be “Yes, of course!” if you import aluminium, chemicals, cement, electricity, fertilisers, iron and steel or plastic from outside the European Union (EU) into the EU.
If you import any of the mentioned products into the EU, you’ll most likely be affected by the CBAM very soon. In less than a year from now, starting in January 2023, you’ll be obliged to collect and to report the quantities of certain imported goods, the direct and indirect emissions embedded in these imported goods, and the carbon price that may have already been paid to produce these goods in their country of origin. Importantly, you’ll be required to report this information for each type of good, for each supplier and for each quarter.
Source PwC
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