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Regulation (EU) 2023/956 establishing a carbon border adjustment mechanism.

Country/Territory
European Union
Document type
Legislation
Date
2023
Source
FAO, FAOLEX
Original source
Official Journal of the European Union L 130, 16 May 2023, pp. 52-104.
Subject
Environment gen.
Keyword
Air quality/air pollution Climate change Emissions Emissions trading Subsidy/incentive International trade Pollution control Precautionary principle Protection of environment
Geographical area
European Union Countries
Entry into force notes
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union. It shall apply from 1 October 2023. However, Articles 5, 10, 14, 16 and 17 shall apply from 31 December 2024; and Article 2(2) and Articles 4, 6 to 9, 15 and 19, Article 20(1), (3), (4) and (5), Articles 21 to 27 and 31 shall apply from 1 January 2026.
Abstract

This Regulation establishes a carbon border adjustment mechanism (CBAM) to address greenhouse gas emissions embedded in the goods listed in Annex I on their importation into the customs territory of the Union in order to prevent the risk of carbon leakage, thereby reducing global carbon emissions and supporting the goals of the Paris Agreement, also by creating incentives for the reduction of emissions by operators in third countries. The CBAM complements the system for greenhouse gas emission allowance trading within the Union established under Directive 2003/87/EC by applying an equivalent set of rules to imports into the customs territory of the Union of the goods referred to in Article 2 of this Regulation. The CBAM replaces the mechanisms established under Directive 2003/87/EC to prevent the risk of carbon leakage by reflecting the extent to which EU Emissions Trading System allowances are allocated free of charge in accordance with Article 10a of that Directive.

Full text
English
Website
eur-lex.europa.eu