On 17 August, the European Commission published the implementing regulation detailing the reporting obligations for companies covered by the Carbon Border Adjustment Mechanism (CBAM).
The transitional phase will begin on 1 October, when companies will have to declare the amount of carbon emitted during the manufacture of their products covered by CBAM. However, they will have until 31 January 2024 to submit data for the last quarter of 2023. Companies will not have to pay for their declared emissions until 1 January 2026.
The implementing regulation provides stakeholders with details of the information to be communicated and the methodology for calculating the quantity of carbon emitted during the manufacture of products.
Companies will have to declare, among other things: the quantity of imported goods (covered by the CBAM and included in Annex I of the basic regulation), the combined nomenclature of these goods, their country of origin as well as their manufacturing plant, integrated direct emissions, or indirect emissions where applicable, etc.
These details, and in particular the method for calculating integrated emissions, were eagerly awaited by the industry so that it could implement the obligations from 1 October. Stakeholders were given the opportunity to submit their comments in a public consultation at the beginning of the summer.
The Commission has also published guidelines for third country importers and businesses on the implications of CBAM.
See the implementing regulation: https://aeur.eu/f/8by
See the guidelines: https://aeur.eu/f/8bz (Original version in French by Léa Marchal)