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How to prepare for EU Carbon Border Adjustment Mechanism reporting changes
In this webcast, panelists discuss lessons learned from EU CBAM and how new reporting standards will affect organizations with EU-based importers and their suppliers.
New reporting requirements take effect in July 2024 for the EU Carbon Border Adjustment Mechanism (EU CBAM), marking an important milestone in the transition from using default values to actual emissions data. The EU CBAM imposes a levy on certain product categories imported into the EU, namely aluminum, cement, fertilizers, iron and steel, hydrogen and electrical energy.
Previously, impacted businesses were able to submit quarterly reports with default values instead of the actual emissions embedded in the products. Moving forward, actual emissions data from suppliers is required for compliance.
Do you have a plan in place to access and collect supplier emissions data? Have you assessed the potential impact of CBAM on your business?
Topics discussed include:
- EU CBAM updates and lessons learned
- Practical case studies for businesses with EU-based suppliers
- Immediate steps to collect supplier data
- Broader strategic and operational considerations for sustainability transformation
Panelists include:
- Richard Albert,Partner, Indirect Tax,Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft
- Ilona Eijnde, Senior Manager, Indirect Tax, Ernst & Young LLP
- Robert Seiter, Associate Partner, Assurance, EY GmbH & Co. KG Wirtschaftsprüfungsgesellschaft
- Nathan Richards,EY Europe West Sustainability Tax and Law Leader; Partner, Operating Model Effectiveness and Transfer Pricing, Ernst & Young AG
Moderator:
- Ana Fallas, Senior Manager, Sustainability Tax Services, Ernst & Young Belastingadviseurs LLP