In a bid to address the implicit greenhouse gas emissions associated with the import of certain goods into the Union Customs Territory, the EU has implemented Regulation (EU) 2023/956, introducing the Carbon Border Adjustment Mechanism (CBAM). This groundbreaking regulation aims to mitigate the risk of carbon leakage, reduce global carbon emissions by at least 55% by 2030, and incentivise emissions reduction by third-country stakeholders.
The regulation, which commenced on October 1, 2023, requires importers of affected goods to report greenhouse gas emissions caused directly or indirectly by their imports. During this period, no payments or adjustments are required. From January 2026, importers will need to acquire CBAM certificates covering emitted CO2 and declare the number of imported goods (including incorporated CO2 emissions) by May 31 of the following year.
Importers in the EU must apply for declarant status for CBAM starting December 2024. During the transitional period, reporting obligations involve quarterly submissions through the CBAM platform. Importers designating indirect customs representatives must explicitly state their non-involvement in these declarations.
The European Commission has published informative guides and is developing specialised digital tools to assist importers and customs representatives in these intricate calculations.
Noatum Logistics: Your Trusted CBAM Consulting Partner
In this era of evolving regulations, the expertise of the Noatum Logistics team is an asset for any business. With a deep understanding of CBAM, our professionals are well-equipped to guide you through the complexities of compliance, ensuring a seamless transition through each phase. Our team stands ready to navigate the intricacies of CBAM, providing comprehensive consulting services to meet your regulatory obligations.