Carbon Border Adjusment Mechanism (CBAM), which is an important part of the European Green Deal, the European Union will impose an additional carbon tax on imported products. Following the October 1, 2023 transition period, companies will be financially responsible by the end of 2025. In the first phase, carbon emission monitoring is being carried out in the cement, iron-steel, aluminum, fertilizer, hydrogen and electricity sectors that produce high emissions.
Carbon Border Adjusment Mechanism (CBAM), a critical component of the European Green Deal, imposes an additional carbon tax on products imported into the European Union. In line with the objective of reducing carbon emissions, after a transition period, companies will be obliged to report and tax the carbon emissions of their products imported into the European Union. In the first phase, it will be mandatory for high emitting sectors – such as cement, iron and steel, aluminum, fertilizers, hydrogen and electricity – to track their carbon emissions, but after 2030 it will apply to all sectors. This mechanism aims to support Europe in achieving its carbon neutrality goals and has significant implications for international trade.
SDCC requires detailed tracking of carbon emissions in high emitting sectors, thus enabling environmental impact management.
By the end of 2025, firms have a financial responsibility to comply with carbon tax regulations and managing this process is important.
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