In brief
The European Carbon Border Adjustment Mechanism (CBAM) entered into force on 1 October 2023. The full panoply of obligations will gradually start to apply during the so-called Transitional Phase through 31 December 2025. Importantly, EU importers will have to submit the first report under the CBAM shortly, by 31 January 2024, reporting on the scope of embedded emissions in certain goods they have imported during the first quarter year the CBAM has applied (1 October 2023-31 December 2023).
- Background
- CBAM obligations and timeline
- Scope of application
- CBAM transitional reports
- Summary and outlook
Source: Baker Mckenzie
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