Who and which products are covered?
EU industries with goods imported from non-EU countries that are carbon-intensive:

• Cement
• Electricity
• Fertilizers
• Iron & Steel
• Aluminium
• Chemical (Hydrogen)

What are the requirements and implementation timeline?
During the transitional phase (1 October 2023 to 31 December 2025) – gradual phase in of the CBAM and phase-out of the allocation of free allowances under the EU Emissions Trading System (ETS)

CBAM reporters are subject to reporting obligations and submit quarterly reports, without the need to buy or surrender certificates
Declarants may report embedded emissions based on the default values made available and published by the European Commission, if they do not have or are unable to report actual embedded emissions.

From 1 January 2026 onwards,

Importers to submit an annual CBAM declaration by 31 May of each calendar year
Embedded emissions to be verified by accredited verifiers
Scope of CBAM to extend all products groups covered by EU ETS
CBAM-certificates to be purchased for a fee

Penalties for non-compliance with the CBAM Regulations
Failure to comply with the CBAM reporting requirements will result in penalties of up to €50 per ton of CO2 in the trial phase. In the post-transitional phase, penalties as well as the price of the CBAM certificates will be linked to the weekly average carbon price in the EU ETS, which is currently about €85 per ton CO2.

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