- The European Commission has adopted rules for the Carbon Border Adjustment Mechanism (CBAM) during its transitional phase, which runs from 1 October 2023 to the end of 2025.
- The rules include reporting obligations for EU importers of CBAM goods and a methodology for calculating embedded emissions during production.
- Traders will only have to report emissions without paying any financial adjustment during this phase.
- The Commission has also published guidance and is developing IT tools and training materials to support businesses.
- The Implementing Regulation was subject to public consultation and approved by the CBAM Committee. CBAM is a tool to fight carbon leakage, a problem caused by companies moving carbon-intensive production abroad or by more carbon-intensive imports replacing EU products.
Source Taxation-customs.ec.europa.eu
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