Information on Regulation (EU) 2023/956

We would like to inform you that Regulation (EU) 2023/956 establishing a border carbon adjustment mechanism ("CBAM") entered into force on 1 October 2023.

The CBAM establishes reporting obligations for the purpose of the border carbon adjustment mechanism in the transitional period from 1 October 2023 to 31 December 2025. During this period, importers or indirect customs representatives (only in the case of importers not established in the Union) must report the quantity of imported goods and their embodied direct and indirect emissions in accordance with Article 35 of x Regulation (EU) 2023/956 and Implementing Regulation (EU) 2023/1773.

The first reporting obligation covers imports during the fourth quarter of 2023 with a submission deadline of 31 January 2024. The last report, covering goods imported during the fourth quarter of 2025, should be submitted by 31 January 2026.

The reporting obligation applies only to imports of goods listed in Annex I to Regulation 2023/956 (e.g. cement, electricity, iron and steel, aluminium and other articles of these metals). The CBAM does not apply in the cases referred to in Article 2 of Regulation 2023/956 such as goods with an intrinsic value of up to EUR 150 and those originating in third countries and territories listed in point 1 of Annex III to the Regulation.

For more information on your obligations as an importer established in the European Union, please consult the official CBAM website of the European Commission here and the information provided by the Ministry of Finance here