On February 26, the European Commission published a proposal within the ‘Omnibus’ package to simplify the Carbon Border Adjustment Mechanism (CBAM). These changes aim to reduce the administrative burden on businesses while maintaining CBAM’s effectiveness.
Key proposed changes:
- Exemption for small importers: Companies importing less than 50 tons of CBAM goods per year will be exempt from all obligations. This means that an estimated 90% of importers will no longer fall under CBAM, while still covering over 99% of emissions.
- Simplified emissions monitoring: The use of standard values will be made easier, eliminating the need for verification.
- Standard values for carbon costs: Importers will no longer need to collect separate information on paid carbon prices.
- Flexibility in certificate requirements: The quarterly obligation to purchase CBAM certificates will be reduced from 80% to 50%.
- Option to appoint an advisor: Companies can designate an advisor to submit CBAM declarations on their behalf.
What does this mean for importers?
The Dutch Emissions Authority (NEa) is currently assessing the impact of these proposed changes for Dutch importers. Until the proposal completes the EU legislative process, existing obligations remain in place.
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