Although there is only preliminary agreement on the “Regulation establishing a Carbon Border Adjustment Mechanism,” the Carbon Border Adjustment Mechanism (CBAM) will almost certainly enter into force from October 2023. With this system, CO2 emissions must be paid for when specific goods are imported into the EU. This concerns emissions released during the production of goods produced outside the EU and imported into the EU. In other words, a carbon border adjustment.
On October 1, 2023, the transition phase will begin (until December 31, 2025). During the transition phase, Customs must inform the importer / the CBAM declarant of the reporting requirement when importing CBAM goods. This is actually still a simplified CBAM version with the main purpose of collecting information.