Dr. Ebner lectures about the Carbon Border Adjustment Mechanism for IHK Offenbach in January 2024: Climate protection through CBAM – what does that mean specifically for German medium-sized businesses?
We are honored of having been invited to give a speech about Carbon Border Adjustment Mechanism (short: “CBAM”) with the Commercial Chamber of Offenbach. Dr. Ebner will give this speech. If you are interested in joining the webinar, please note the following link for registration:
here, you may find more information about the webinar:
Tuesday, January 30, 2024
10:00 a.m. – 11:30 a.m., webinar
Companies that import certain goods such as iron, steel and aluminum and goods thereof, electricity, cement, fertilizers and hydrogen are affected by the CBAM (Carbon Border Adjustment Mechanism) and must submit their first report at the end of January 2024.
It is well known that the EU is particularly concerned about protecting the environment. It has set itself a significant goal of reducing CO₂ emissions by 55 percent by 2030 compared to the baseline year 1990. The introduction of CBAM (Carbon Border Adjustment Mechanism) should also be placed in this context, according to which the EU encourages a more careful handling of CO₂ emissions worldwide.
CBAM requires importers of emissions-intensive goods to purchase CBAM allowances to make up the difference between the CO₂ cost in the country of manufacture and the CO₂ allowance price. The CBAM reporting requirement begins on October 1, 2023, after which the first quarterly report must be submitted by January 31, 2024.
In the initial phase, goods listed in Annex I of Regulation 2023/956 (EU) are affected. these are
- Iron and steel/iron and steel goods
- Aluminum/goods made from aluminum
- Electricity
- Cement
- Fertilizer
- Hydrogen
The reporting requirement affects companies in the EU that import these goods from third countries.
The EU plans to expand the scope of CBAM to other goods, including organic chemicals and polymers. By 2030, all goods should be covered by EU emissions trading.
All well and good, as a German medium-sized company you will now basically think – but what does all this mean specifically for you as a company? What measures need to be taken, when, and in particular what costs can your company expect?
Find out more in our webinar Climate protection through CBAM – what does that mean specifically for German medium-sized businesses? and use our experts and their know-how for your internal company compliance.
