Non-EU businesses must measure and report greenhouse gas emissions accurately to comply with CBAM requirements. □□ĬBAM underscores the need for precise carbon accounting. Non-EU businesses face a significant administrative burden, including assessing and reporting embedded emissions and complying with carbon pricing. The mechanism requires imported goods to bear a carbon price equivalent to EU domestic production, with reporting and certification phases starting in 2023. □ĬBAM involves meticulous tracking of carbon emissions, using a unified method for efficiency and transparency. Underneath this equalization lurks an opportunity, to position your business better and take advantage of the now explicit carbon costs. □Īimed at ensuring a level playing field, CBAM equalizes the carbon impact between EU and non-EU producers of carbon-intensive goods. The European Union's Carbon Border Adjustment Mechanism (CBAM) is a game-changer for global industries.
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