The European Union Carbon Border Adjustment Mechanism – the launch in 2023

David Savage
David Savage
Head of Customs Advisory, Deloitte Ireland, Ireland
Published 29 Jan 2023
The European Union Carbon Border Adjustment Mechanism – the launch in 2023
Image from Pixabay
Topic spotlight
Sustainability
In mid-December 2022, negotiators of the Council and the European Parliament reached an agreement of a provisional and conditional nature on the Carbon Border Adjustment Mechanism (CBAM). The agreement needs to be confirmed by ambassadors of the EU member states, and by the European Parliament, and adopted by both institutions before it is final. However, according to the agreed timetable, the transition period for its implementation is set to come into force in October 2023. What should companies do?

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