Regular reporting on current developments on the CBAM, tailored to your company.
The Carbon Border Adjustment Mechanism (CBAM)
The Carbon Border Adjustment Mechanism (CBAM) will be implemented from 2023. It obliges importers of certain goods to surrender CBAM certificates depending on the CO2 content of the imported goods. From 2026, the European Union will price CBAM certificates based on the allowance price level in the European emission trading system (EU ETS). We accompany your business through the entire process so that your company is prepared and can meet all obligations.
What is the Carbon Boundary Adjustment Mechanism (CBAM)?
The Carbon Border Adjustment Mechanism (CBAM) is a climate protection instrument currently being negotiated at EU level. CBAM obliges importers of certain goods to submit emission reports for their products and to submit CBAM certificates depending on the CO2 content of the imported goods. CBAM is to be implemented from 2023 onwards and the European Union will price CBAM allowances in line with the price level in the European Emissions Trading Scheme (EU ETS) from 2026.
Which energy and climate targets has the EU set for itself?
In the EU Green Deal and the Fit for 55 package, the EU has set itself ambitious energy and climate policy goals. The share of renewable energies in final energy consumption is to increase to 40 percent by 2030 and even to 45 percent according to the new REPowerEU strategy to reduce import dependence on Russian fossil fuels. Greenhouse gas emissions are to fall by at least 55 percent by 2030 compared to 1990. By 2050, the EU is to be climate neutral.
What is the EU ETS?
The European Emissions Trading Scheme (EU ETS) has been the EU’s central climate protection instrument since 2005- and covers about 40 % of the EU-wide greenhouse gas emissions. It aims to reduce greenhouse gas emissions in the participating energy sector, energy-intensive industry, aviation and shipping. The EU ETS works according to the principle of “cap & trade”. A cap determines the total amount of greenhouse gas emissions that may be emitted by installations subject to emissions trading. The emission allowances can be freely traded on the market. This creates a price for the emission of greenhouse gases. This price creates incentives for the participating companies to reduce their greenhouse gas emissions.
How high should the emission reductions in the EU ETS be?
The emission reductions of the sectors and industries in the EU ETS are to fall by at least 62 percent by 2030 compared to 2005. By 2020 the emissions in the EU ETS have already been reduced by 21 percent compared to 2005.
What is the EU ETS II?
The details of a new and second emissions trading system (EU ETS II) are currently being negotiated at the EU level. The EU ETS II will require fuel distributors in the road transport and building sectors across the EU to participate and will put a price on emissions in these sectors from 2027 onwards.
Does carboneer also offer greenhouse gas accounting services?
Together with our partners, we also provide accounting services for internal and external greenhouse gas emissions (Scope 1-3) for selected clients.