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Carbon Border Adjustment Mechanism (CBAM)
CBAM is a policy framework developed and enforced by the European Union (EU) as part of its efforts to address climate change and reduce carbon emissions.
CBAM works by imposing a carbon price on imports of certain goods at risk of carbon leakages, such as cement, steel, aluminium, fertilisers, and electricity. This ensures that imported goods face the same carbon costs as domestically produced goods, levelling the playing field and encouraging producers from non-EU countries to adopt greener practices.
Companies are required to review the products they export to the EU from non-EU countries to determine if they have reporting obligations. Even if companies themselves do not have direct reporting obligations under CBAM, they may sell products to customers who do have such obligations to ascertain the embodied carbon in their products.
CBAM works by imposing a carbon price on imports of certain goods at risk of carbon leakages, such as cement, steel, aluminium, fertilisers, and electricity. This ensures that imported goods face the same carbon costs as domestically produced goods, levelling the playing field and encouraging producers from non-EU countries to adopt greener practices.
Companies are required to review the products they export to the EU from non-EU countries to determine if they have reporting obligations. Even if companies themselves do not have direct reporting obligations under CBAM, they may sell products to customers who do have such obligations to ascertain the embodied carbon in their products.
The scope of our CBAM Advisory includes
Understanding of the production process
Classification of goods
Defining associate system boundaries
Identification of relevant emission hotspots
Developing a monitoring framework
Facilitating activity data collection
Calculation of attributed and precursory emissions of each classified goods
Submission of CBAM report
IS YOUR ORGANISATION REQUIRED TO COMPLY WITH CBAM?
If you’d like to find out more about our CBAM services and how we can support your company, click here or email us directly on [email protected] and a member of the team will be in touch.
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