Aug 24, 2023
EC publishes definitive regulation for transitional CBAM phase
2023-08-28
The European Commission published last week the definitive regulation for the implementation of the transitional phase of the new Carbon Border Adjustment Mechanism (CBAM).
The CBAM transitional phase is starting from the beginning of October 2023 and will run until the end of 2025. From 2026 the CBAM will be fully implemented.
The definitive regulation published last week clarified all aspects of the implementation during transition. A CBAM Transitional Registry is being established by the European Commission and further IT tools as well as material for support during the transition are also being developed.
“During the transitional period, importers or indirect customs representatives are to report on the quantity of imported goods, direct and indirect emissions embedded in them, and any carbon price due for those emissions, including carbon prices due for emissions embedded in relevant precursor materials,” the regulation seen by Kallanish explains. “The first report should be submitted by 31 January 2024 in respect of goods imported during the fourth quarter of 2023. The last report should be submitted by 31 January 2026 in respect of goods imported during the fourth quarter of 2025.”
