Customs Flash: Key CBAM updates: Transitioning to Actual Emissions Data as of Q3 2024

Since October 2023, EU businesses are obligated to file quarterly reports on their imports of products covered by the CBAM regulation [Regulation (EU) 2023/956]. Among the information contained in such reports is the embedded emissions from the production of the respective products in the country of origin. Initially, declarants were permitted to use default values for all imported goods resulting in a simplified reporting process for the first three periods (Q4 of 2023, Q1 and Q2 of 2024). Consequently, the CBAM report due July 31st, 2024, was the final report where default values could be applied in full scale.

Download the report to learn about the key CBAM updates in detail.