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Under the EU's Carbon Border Adjustment Mechanism (CBAM) legislation, which imposes a levy on imports of goods with embedded CO² emissions from third countries into the European Union, companies importing a range of products with significant carbon emissions will be subject to significant new reporting requirements from 1 October 2023, with fines for non-compliance.

Importers will be required to report detailed information on imports of CBAM goods such as iron and steel, aluminium, hydrogen, fertilisers, electricity and cement, among others, on a quarterly basis from the fourth quarter of 2023, on pain of penalties.

In particular, importers will be required to report, in a specific format, data which in principle have not been collected to date, such as data on the CO² emissions embedded in imported goods and on any emissions levies already imposed on these goods in third countries.

The above reporting system is a transitional solution prior to the introduction of an additional separate levy that traders will be required to pay on imports from 2026, in order to align the price of the CO² emissions embedded in imported goods with the emissions price applicable (under the EU ETS) for the production of such goods in the EU.

During the webinar we will discuss:

• the purpose, objectives and key principles of the CBAM scheme,
• the scope and identification of goods subject to CBAM
• the customs procedures that trigger CBAM reporting obligations
• the information to be reported under the CBAM system and the problems associated with obtaining it,
• the manner, timing and details of information reporting,
• the financial penalties and other risks associated with non-compliance or misapplication of the CBAM regulations,
• possible changes to companies' business and operating models needed to safely implement CBAM.

In addition, during the webinar we will also highlight new regulations other than CBAM related to climate and environmental protection, such as ESRS or ROP, which relate to product liability and the need to analyse the so-called environmental footprint (including carbon footprint). These regulations will have an increasing impact not only on the production and distribution cycle, but also on the transparency of companies, creating new legal and financial risks.

Organizational information

• Participation in the webinar is free of charge, but registration is required.
• The event will be conducted in Polish.
• The organizer reserves the right to select applications.
• Attendance translates into training points required for continuing education obligations.
• For questions about the event, please contact Iryna Svitelska, marketing & BD manager: iryna.svitelska@dentons.com