Avery Dennison Hanita’s Post

Navigating the EU's Carbon Border Adjustment Mechanism #CBAM is crucial for businesses exporting certain goods to the EU. Understanding and complying with these regulations can ensure your products remain competitive in the EU market. CBAM aims to stop carbon leakage - when companies shift production to countries with lax emissions regulations - and promote global #sustainability. Starting in 2024, businesses importing high-emissions products into the EU must report embedded emissions. By 2026, they will also need to pay for these emissions. To learn more about this far-reaching regulation and how Good.Lab 's Product Footprint Calculator simplifies the process of measuring the emissions of covered products, and maintains your companies competitiveness in EU markets, dive into our in-depth guide to CBAM compliance 👉 https://hubs.ly/Q02D4j_g0 #SustainabilitySolved #CBAM #Sustainability #Compliance #CarbonFootprint #GoodLab #ClimateAction

🚨 𝐂𝐁𝐀𝐌 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐀𝐥𝐞𝐫𝐭 🚨 ⏰ The Q3 2024 CBAM-reporting deadline is fast approaching (tomorrow, 31 October 2024). Is your business prepared? 🌍 The #EuropeanUnion already has (#ETS) rules in place for pricing the CO₂ (#carbondioxide) emissions of certain goods. Consequently, some businesses have sourced their materials from outside Europe because such rules are less strict there, or not in place at all. As a result, producers would not have to account for CO₂ taxes when calculating their costs. The EU labelled such production shifts outside Europe (#CarbonLeakage) undesirable and contradicting with the EU's environmental goals. Therefore, the EU has introduced a levy mechanism (#CarbonBorderAdjustmentMechanism, or #CBAM) for the CO₂ emissions of goods produced outside Europe. 1️⃣ 𝐒𝐜𝐨𝐩𝐞: High-emission imports (#Iron, #Steel, #Aluminium, #Hydrogen, #Cement, #Fertilizer, #Electricity), with a transition period from 1 October 2023 - 31 December 2025; potentially expanding to #Polymers / #Chemicals at a later stage. 2️⃣ 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠: In preparation of the final system, in which businesses will be required to pay a levy for the CO₂ emissions generated during the production of those goods. As of 1 July 2024, reporting should be based on actual emissions data. Starting from 2026, businesses must cover these emissions using so-called CBAM certificates. 3️⃣ 𝐈𝐦𝐩𝐚𝐜𝐭: A level playing field, encouraging global green practices and innovation, reshaping (international) trade dynamics. 🔍 At Grant Thornton Netherlands, we understand the complexities of this mechanism and its potential impact on your business. Our #SustainableTax team has assisted numerous importers and suppliers in the light of their CBAM compliance. For further guidance, we have prepared a whitepaper to guide you through this #EURegulation. 🚨 Don't risk non-compliance! 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐨𝐮𝐫 𝐂𝐁𝐀𝐌 𝐰𝐡𝐢𝐭𝐞𝐩𝐚𝐩𝐞𝐫 𝐟𝐨𝐫 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐚𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: 💡 𝐂𝐁𝐀𝐌 𝐰𝐡𝐢𝐭𝐞𝐩𝐚𝐩𝐞𝐫 (𝐄𝐧𝐠𝐥𝐢𝐬𝐡): https://lnkd.in/ev49NcgU 💡 𝐂𝐁𝐀𝐌 𝐰𝐡𝐢𝐭𝐞𝐩𝐚𝐩𝐞𝐫 (𝐃𝐮𝐭𝐜𝐡): https://lnkd.in/e2Zz3KVb 𝐒𝐭𝐚𝐲 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐭, 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞, 𝐚𝐧𝐝 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐞𝐯𝐨𝐥𝐯𝐢𝐧𝐠 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭.

🌱 Exciting developments in sustainability! The EU's Carbon Border Adjustment Mechanism (CBAM) aims to level the playing field for global industries while reducing carbon emissions. Starting 2026, companies must purchase certificates matching the emissions of their imported goods. To prepare, companies need to strategize for CBAM compliance, exploring carbon reduction strategies and optimizing supply chains. Learn more about navigating CBAM and its impact on suppliers. #CBAM #Sustainability 👉 https://lnkd.in/eYCx-_TK

#CBAM - just another ESG reporting obligation? Read the newest blog post by consultant Alexander Neske and learn the ins and outs of the Carbon Border Adjustment Mechanism introduced by the #EU and why it might be one of the most important #ESG legislatures. By imposing a #carbon cost on imports to the EU, CBAM incentivizes global producers to reduce their carbon #footprint to remain competitive in the European market. Thus, CBAM levels the playing field between European businesses and those in countries with less stringent carbon emissions standards, thereby preventing "carbon leakage." This mechanism could encourage the worldwide adoption of greener practices, potentially generating a significant #impact and addressing the systemic issues that contribute to Greenhouse Gases. While CBAM creates opportunities for European firms, it also poses challenges. It necessitates compliance with new reporting and carbon pricing regulations, urging businesses to adapt their operations, data collection, and supply chains to meet these sustainability criteria. With #cbszero, we are helping companies transition to sustainable and future-proof organizations. We offer our customers tangible approaches to measuring, analyzing, and reducing their carbon footprint using SAP tools. Read the blog post to learn more: https://lnkd.in/emCzjSNn

In navigating the shifting climate policy landscape, this article sheds light on the EU's Carbon Border Adjustment Mechanism (CBAM) set to take full effect by 2026. This legislation is pivotal for industries, particularly metals, in aligning carbon pricing and reducing carbon leakage.

👉 The new article is now online: https://lnkd.in/dhXXtp3r 🚨 EU Carbon Border Adjustment Mechanism (#CBAM) now in effect: key insights for importers and suppliers 🌍 As of October 1, 2023, the EU’s Carbon Border Adjustment Mechanism (CBAM) has entered its transitional phase, complementing the European Emissions Trading System (EU ETS). Here’s what importers and suppliers need to know:   🔍 Objective & Status: CBAM aims to align #carbon prices of imported goods with those produced in the EU, creating a level playing field. This measure is WTO-compatible and boosts global sustainability. It was implemented on May 17, 2023, and is directly applicable in all EU Member States.   📊 Scope: From now until December 31, 2025, CBAM applies to: • Certain iron and steel goods (e.g., bolts) • Aluminium products • Iron ore and hydrogen • Specific fertilizers • Electricity • Cement and other mineral products   🌐 Exemptions: Goods from Liechtenstein, Norway, Iceland, and Switzerland are exempt due to their participation in or linkage to the EU ETS. More countries may be exempted based on their CO2 regulations.   👥 Responsibilities: Importers: • Must gather data from October 1, 2023, with quarterly reporting starting. • Reports include energy use, embedded emissions, country of origin, and carbon price. Operators (Manufacturers): • Must provide independently verified data on embedded emissions upon request from importers. •  Supply contracts may need updating to include these data obligations.   🚫 Compliance & Sanctions: •  Penalties for non-compliance range from €10 to €50 per ton of unreported or inaccurately reported emissions. • Fines of €100 per ton of CO2 for failing to surrender required CBAM certificates by May 31 each year, starting in 2027.   📅 Next Steps: • Importers and suppliers must prepare now, ensuring meticulous data collection and compliance with CBAM’s rigorous requirements. • Assess where existing data from other reporting obligations (EU Taxonomy, CSRD, national supply chain acts) can be reused for CBAM.   Let's gear up for a sustainable future! 🌱💼 #Sustainability #CBAM #EU #ClimateAction #CarbonBorderAdjustmentMechanism #Compliance

The Carbon Border Adjustment Mechanism #CBAM is an EU initiative to prevent carbon leakage by imposing the same carbon costs on imports as on domestic products. At the upcoming ICC Sustainability Conclave organised by Department of Chemicals and Petrochemicals and Indian Chemical Council (ICC), Willi Muenninghoff will be part of an expert panel, sharing insights on how CBAM and other emerging EU regulations impact non-EU companies. 💬 Harmonizing the Complex Landscape of Sustainability Regulations 📅 6 Dec 2024 🕓 1345 – 1500 (IST) 📍 The Lalit, New Delhi, India To further discuss on how Ramboll's expertise can help your company comply with EU regulations, reduce its carbon footprint, and maintain market access while enhancing its competitive edge through sustainable practices, do reach out to Willi Muenninghoff. #SustainabilityConclave2024 #Sustainability #CircularEconomy

With #SouthAfrica #CarbonTax there are some opportunities for anyone exporting into the #EuropeanUnion. The EU Carbon Border Adjustment Mechanism #CBAM is now a reality and will make it more difficult to remain competitive to export into the EU markets. Read the Anthesis South Africa #WhitePaper below and feel free to contact us to get some more insights.

While the emission reporting obligations during the transitional period of CBAM are new to many companies and require comprehensive preparation, regulations on CBAM will evolve during the coming years and should be closely monitored. Ultimately, companies require a strategic approach towards these new realities of global trade and decarbonization. #sentraworld #cbam #europeanunion #decarbonization #netzero

🤓 Are you aware of EU #CBAM? The Carbon Border Adjustment Mechanism (CBAM) is a new policy initiative by the EU aimed at tackling #climatechange and promoting fair competition. It aims to put a price on the #carbonemissions 🏭 of imported goods, ensuring that #EUcompanies aren't undercut by cheaper imports from countries with lax environmental regulations. 💡 How it works? 💰 Carbon Pricing on Imports: CBAM imposes a carbon price on imports of certain goods into the EU. This price is based on the amount of carbon dioxide (#CO2) emitted during the production of these goods. 🚀 Scope: Initially, CBAM will cover imports of #cement, #iron and #steel, #aluminum, #fertilizers, and #electricity. More sectors may be added over time. ⚖ Equal Playing Field: By ensuring imported goods face the same carbon costs as goods produced within the EU, CBAM promotes #fair competition and encourages #global producers to adopt greener practices. 🔎Transparency and Compliance: Importers will need to buy CBAM certificates, representing the embedded emissions in the goods they bring into the EU. The price of these certificates will align with the EU Emissions Trading System (#ETS). 🌍 Environmental Impact: CBAM is part of the EU's broader #GreenDeal, aiming to reduce 📉 #greenhousegasemissions by at least 55% by 2030 and achieve #climateneutrality by 2050. CBAM helps the EU meet its ambitious climate targets and prevents "carbon leakage," while encouraging other countries to strengthen their #climatepolicies. CBAM seems like a pioneering step towards a #greener future, ensuring that the fight against climate change doesn’t compromise economic competitiveness. For more details 👉 : https://lnkd.in/esp5UM2b #Sustainability #ClimateAction #EUClimatePolicy #AccelWater #CarbonPricing #NetZero #SupplyChain