What is CBAM? The Carbon Border Adjustment Mechanism (CBAM) is an important regulatory framework designed to impose a tax on imports of carbon-intensive products. Its primary goal is to ensure that imported goods from outside the European Union (EU) and the United Kingdom (UK) are subject to a comparable carbon price as those produced domestically. This approach has significant implications for businesses engaged in international trade. We have developed our own PASCHALi Five Step Process to CBAM Compliance . Read on… Objectives of CBAM The main objectives of CBAM are to: Address Carbon Leakage: The mechanism seeks to mitigate the risk of carbon-intensive production being relocated to countries with less stringent environmental regulations. Reduce Greenhouse Gas Emissions : By aligning carbon costs for imported goods with domestic products, it incentivizes lower emissions. Promote Global Progress Toward Net Zero: CBAM aims to drive global efforts in achieving net zero greenhouse gas emissions. To remain compliant, businesses will be required to submit detailed emission reports for imported goods covered by CBAM.

Check below to see if you have included the latest government updates to ensure your full compliance by 5 June 2024

This article summarises the various compliance requirements for climate change, energy, carbon and sustainability, namely: CSRD, ESOS, SECR, CDP, TCFD and IFRS. There are a number of different reporting frameworks in the UK that companies are required to complete either mandatory or voluntary based on their size and/or turnover. Knowing what to disclose for these different frameworks can be challenging. Read on for more information....