On 18 August, the European Commission announced the adoption of reporting rules for importers of products under the Carbon Border Adjustment Mechanism (CBAM), the EU’s new carbon tax on imported goods, aimed at equalizing the carbon price paid by European producers with those outside the EU.
The new rules will require companies to collect data on the embedded emissions of imported products from October 2023, with reporting beginning by the end of January 2024, and will apply through the transitional phase of CBAM, until the end of 2025.
