On 1 October 2023, the EU will start applying a Carbon Border Adjustment Mechanism (CBAM).
Succinctly
- On 1 October 2023, the Carbon Border Adjustment Mechanism (CBAM) will be implemented throughout the EU.
- CBAM imposes new reporting requirements on imports of certain goods made of steel, iron, aluminium, cement, as well as electricity, iron ore, fertilisers and hydrogen.
- Compliance with CBAM is both important for meeting environmental goals and for preserving the companies’ import permits.
What is CBAM?
Reporting during the transition period
Preparing for the challenge
Five key actions companies should take
Source: EY
