EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
New legislation and other news
Webinar Commission CBAM "How to make you decarbonisation efforts pay off"
On the 7th of May 2026 the European Commission CBAM webinar from the webinar series "How to make your decarbonisation efforts pay off" was held. Here are some of the key takeaways:
- Two new Guidance documents will be published - Guidance Document for non EU operators and Guidance Document for verifiers and accreditation bodies.
- Introduction of the concept of functional unit which refers to the category of goods that share similar characteristics in terms of function, performance and quality. By default, the functional unit is the tonnes of goods under the same CN code produced in the installation.
- The production processes are defined by the functional units, therefore they cannot be split in production routes.
- Some finishing processes for iron and steel products and aluminium products are excluded from the system boundaries as they have limited contribution to embedded emissions.
- Monitoring plan is introduced next to the emissions report. A monitoring plan will help the verifier to plan the site visit and the verification.
- If there is sufficient evidence to identify the actual time of production, the reporting period shall be the period during which the good was produced in contrast to the year when the good was imported.
More information on this CBAM webinar can be found using the following link.
New edition of TradeWatch
As global trade continues to evolve, organizations are increasingly operating in a “new normal” defined by accelerated regulatory change and expanding compliance expectations. EY’s TradeWatch Issue 1 2026 highlights how trade and customs functions are being reshaped by developments in data governance, sustainability, and operating model design.
A clear shift is visible across jurisdictions: compliance is moving beyond traditional border formalities toward transaction-level traceability, data-driven controls, and integrated governance frameworks. Authorities are relying more heavily on electronic data, cross-checks, and real-time validation, placing greater emphasis on data accuracy and system readiness.
In parallel, the European Union (EU) continues to strengthen its position as a global standard-setter in sustainability-driven trade regulation. As outlined in TradeWatch, these developments are not standalone initiatives but part of a broader transformation linking customs processes, sustainability requirements, and supply chain design.
Key EU Sustainability & Trade Topics (TradeWatch 2026)
- EU-Australia Trade Agreement: A new pillar in the trans-pacific trade relationship
- EU-India Free Trade Agreement: A new anchor in an unsettled global trade environment
- EU-Mercosur Agreement: Trade liberalization and the road ahead of businesses
- EU-CBAM entered in its definitive regime
- EUDR at the gates: Key customs, tax and supply-chain considerations
- EU Customs Reform for e-commerce
"EU Sanctions Due Diligence in Practice" Webinars
The EU Sanctions Helpdesk is hosting a series of Webinars about EU Sanctions Due Diligence in Practice. The series consists of 4 45-minute webinars held on Fridays. The topics are:
- 15 May 2026: Counterparty Due Diligence
- 22 May 2026: Restricted Products and Services
- 29 May 2026: High-Risk Countries and Circumvention
- 5 June 2026: End-Use and End-User Risks
You can subscribe for the events via this website: Events - EU Sanctions Helpdesk - European Union.