Sustainability

The European Union Carbon Border Adjustment Mechanism – the launch in 2023

Dr David Savage Senior Manager - Customs and International Trade Services, BDO Ireland

Customs Compliance & Risk Management (CCRM) Journal, Issue 18, December 2022 / January 2023

January 29, 2023

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The European Union Carbon Border Adjustment Mechanism – the launch in 2023

Image from Pixabay

Topic: duties, taxes restrictions, trade barriers import sustainability
Tag: climate-friendly goods

In mid-December 2022, negotiators of the Council and the European Parliament reached an agreement of a provisional and conditional nature on the Carbon Border Adjustment Mechanism (CBAM). The agreement needs to be confirmed by ambassadors of the EU member states, and by the European Parliament, and adopted by both institutions before it is final. However, according to the agreed timetable, the transition period for its implementation is set to come into force in October 2023. What should companies do?

Copyright of the journal: CC Learning, UAB

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