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📑 Overview:

Introduction: Welcome to our webinar on the EU's Carbon Border Adjustment Mechanism (CBAM). We'll explore this crucial climate policy tool, its implications for importers, and essential deadlines to keep in mind.

1. Background and Functioning:

• The European Emissions Trading System (EU-ETS): Since 2005, the EU-ETS has been pricing greenhouse gases emitted within the EU.
• Introduction of CBAM: To prevent "Carbon Leakage," the shift of production to countries with lower environmental standards, CBAM, a part of the "Fit for 55" package, will be implemented. Starting in 2026, it will tax certain emission-intensive goods imported from non-EU countries.
• CBAM Certificates: Importers must buy CBAM certificates, with prices tied to the EU-ETS's weekly average certificate prices. Credits are available for CO2 prices already paid in the country of origin to avoid double charging.

2. Affected Goods:

• Goods Under Scope: CBAM applies to goods listed in Annex I of Regulation (EU) 2023/956, primarily focusing on iron, steel, aluminum, electricity, cement, ammonia, and certain fertilizers.
• Exclusions: Specific goods under these categories are exempt. The applicable goods are identified by their customs tariff number or Combined Nomenclature.

3. Obligations for Importing Companies:

• CBAM Implementation Regulation: Published on September 15, 2023, it outlines detailed reporting requirements for importers.
• Transition Phase (2023-2025): This phase focuses on data collection and experience gathering without financial compensations. Important aspects include registering in the provisional CBAM registry, calculating and documenting emissions, and quarterly CBAM reporting.
• Implementation Phase (Post-2026): Enhanced obligations include applying for a CBAM registration as an "authorized declarant," calculating embedded emissions, purchasing CBAM certificates, and submitting annual CBAM declarations.
• Future Expansions: The scope of CBAM might be extended to include additional products, with all EU-ETS covered goods potentially included by 2030.

4. Preparing for Compliance:

• Import Assessment: Determine if your imports are covered under CBAM.
• Internal Responsibilities: Assign tasks for compliance with reporting obligations.
• Supplier Coordination: Engage with suppliers for CO2 emission calculations.
• Utilizing EU Resources: Leverage e-learning offerings and guidance from the EU Commission for clarity.

Deadlines and Key Dates:

• Transition Phase Deadlines: Emphasize the importance of meeting the quarterly reporting deadlines starting January 2024.
• 2026 Onwards: Highlight the necessity of understanding and preparing for the new legal framework, including the calculation and purchase of CBAM certificates.

In this webinar, we will teach you all what you need to know about the Carbon Border Adjustment Mechanism and how to report and collect information from your suppliers.

📩 How to join the webinar and get recording?

 Register using this registration form:

https://complymarket.com/en/events/understanding-the-eus-carbon-border-adjustment-mechanism-cbam-key-aspects-and-compliance-deadlines

If you have any questions, please 📞 Contact us at complymarket@complymarket.com

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Anna Witzmann

Business Development Manager

ComplyMarket UG (beschrankte gesellschaft)

Email:  complymarket@complymarket.com

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