Customs Newsletter: Key CBAM update

We are currently in the fifth quarter of the transitional phase of the Carbon Border Adjustment Mechanism (CBAM) and liable importers have already started to face challenges in the reporting process for imported goods that are subject to the measure, with more to come as of 2025. Namely, as of Q3 2024, importers may not rely only on default values to report the embedded emissions of imported CBAM goods (other than electricity), but they need to report actual embedded emissions. By 31 December 2024 (i.e. for the purposes of the CBAM report to be filed by 31 January 2025) importers have the option to calculate the emissions either according to the EU Method (EU Regulation 2023/956) or any other equivalent method. And finally, as of 2025 and onwards, only the EU Method for calculation of embedded emissions will be permissible for the CBAM reporting.

In parallel the European Commission initiated the consultation period for two draft implementing regulations aimed at enhancing the operational framework of CBAM during the definitive period, that will start as of January 1, 2026. These draft regulations focus on the authorised declarant status and the establishment of an exhaustive CBAM registry and aim to illuminate the pivotal aspects of the final CBAM rollout.

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