Demystifying CBAM: What It Means For Your Business
Do you import into the EU?
On October 1st, 2023, the European Union introduced the Carbon Border Adjustment Mechanism, CBAM. The aim of CBAM is to apply charges for carbon emitted during the production of products outside of the EU. Introduced in 2 phases between 2023 through to 2026, the first phase will require reporting for six sectors: Cement, Aluminium, fertiliser, iron and steel, electricity, and hydrogen. Phase two will be introduced in 2026 and will include tariff charges.
The UK government has advised it will be introducing its own version of CBAM in 2027.
- Are you aware of the commodity codes affected by the reporting requirements?
- Could you be falling foul of the new regulations?
Join this webinar to understand what CBAM is, how it may affect you now and in the future and what your next steps should be.
To sign up for your place visit Chambers Wales HERE
We look forward to seeing you there!