- The European Commission has adopted detailed reporting rules for the transitional phase of the Carbon Border Adjustment Mechanism (CBAM), which begins on October 1, 2023, and runs until the end of 2025.
- During this phase, traders will only need to report on the emissions embedded in their imports subject to the mechanism without paying any financial adjustment.
- The Implementing Regulation published today details the transitional reporting obligations for EU importers of CBAM goods, as well as the transitional methodology for calculating embedded emissions released during the production process of CBAM goods.
- The Commission has also published guidance for EU importers and non-EU installations on the practical implementation of the new rules.
- Dedicated IT tools and training materials are being developed to support businesses when the transitional mechanism begins.
- CBAM is the EU’s landmark tool to fight carbon leakage, a central pillar of the EU’s ambitious Fit for 55 Agenda.
Source Orbitax
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