CBAM implementation: consultation launched

The EU Commission launched a consultation on the implementation of the Carbon Border Adjustment Mechanism (CBAM) on Tuesday. The draft implementing regulation details reporting obligations and information that importers of products affected by the CBAM must provide during the transition period. This will start on Oct. 1, 2023, and run until the end of 2025, during which time importers at the EU borders will only have to report on the emissions intensity of their products without paying any financial compensation.