Navigating compliance and seizing opportunities for entities affected by CBAM
Within the 'Fit for 55' legislative package, the European Union introduced the Carbon Border Adjustment Mechanism (CBAM) to equalise the price of carbon paid for EU products operating under the EU Emissions Trading System (ETS) and the price of carbon paid for imported goods.
In short, companies that import goods into the EU will be obliged to report the emissions embedded in their imports and purchase CBAM certificates. This way, companies will pay the difference between the carbon price paid in the country of production and the price of carbon allowances in the EU ETS, ultimately preventing carbon leakage and promoting decarbonisation globally.
The EU CBAM transitional period started in October 1, 2023. The sectors covered in the first phase of CBAM include: cement, iron and steel, aluminium, fertilisers, electricity and hydrogen.
In the dynamic landscape of CBAM compliance, South Pole offers a comprehensive, end-to-end suite of advisory services for both private and public entities.
Our Integrated CBAM Suite ensures your business not only complies but excels, turning compliance challenges into opportunities for sustainable growth and innovation.
We offer an all-encompassing suite of services, from compliance to capacity building, allowing a smooth transition into meeting the CBAM requirements.
Benefit from our international network of experts, providing you with a global perspective and insights into best practices worldwide.
We simplify the intricate world of CBAM compliance, offering a roadmap tailored to business needs.
We guide corporations in adopting green technologies and developing innovative decarbonisation strategies in a cost efficient way.
Our solutions not only meet current compliance standards but also position your business for long-term success in a changing world.
Please note: South Pole is not a firm of solicitors or registered advocates in any jurisdiction nor is it regulated by a professional body habitually overseeing providers of legal advice. The information and commentary provided does not, and are not intended to, amount to legal advice to any person on a specific case or matter.
