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News EU enacts carbon border adjustment mechanism regulation

EU enacts carbon border adjustment mechanism regulation

Written by Global Cement staff 18 August 2023
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Europe: The EU has enacted the implementing regulation for the carbon border adjustment mechanism (CBAM) under its emissions trading scheme (ETS). Under the CBAM, importers of cement to the EU will eventually pay taxes for its embedded CO2 emissions, equivalent to those levied against EU-based producers. Importers must begin to collect emissions data from 1 October 2023, and submit a report for the fourth quarter of 2023 to EU authorities by 31 January 2024. No financial adjustment will yet be payable during the transition period to full CBAM implementation from the start of 2026.

The Asset newspaper has reported that dedicated IT tools and training materials for importers affected by the CBAM are currently in development, according to the European Commission.

Last modified on 23 August 2023
Published in Global Cement News
Tagged under
  • European Union
  • CO2
  • Sustainability
  • Emissions Trading Scheme
  • carbon border adjustment mechanism
  • Tax
  • Government
  • European Commission
  • data
  • costs
  • training
  • software
  • Import
  • trade
  • GCW622
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