- European Commission published guidance on Carbon Border Adjustment Mechanism (CBAM)
- Importers struggling to collect emissions data for reporting obligations under CBAM
- Many suppliers lack technical means to provide emissions data
- CBAM aims to reduce CO2 emissions by placing a price on greenhouse gas emissions
- Importers must submit quarterly reports on embedded emissions in imported goods
- Importers must register with CBAM registry in 2025 and submit annual reports starting in 2026
- Importers must evaluate environmental footprint of emissions in their supply chain
- Covered importers now required to report actual embedded emissions for each CBAM product imported into the EU
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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