Webinar recording: CBAM transition period expires - Why you should apply for CBAM registrant status now
published on
28.11.2024
The countdown is on: The CBAM transition period is progressing and the introduction of the CBAM system is getting closer and closer. The registration process to become a CBAM applicant can take up to 180 days, so now is the ideal time to apply for the status and strategically prepare for the upcoming requirements.
The introduction of the Carbon Border Adjustment Mechanism (CBAM) presents companies with new challenges. In our webinar"CBAM transition period is coming to an end - Why you should apply for CBAM applicant status now" you will learn why it is crucial to act now.
The Carbon Border Adjustment Mechanism (CBAM) was introduced by the European Union to control global CO2 emissions and to make competition between companies within the EU and third countries fairer. The aim of the system is to record the emissions associated with imported goods and to tax them accordingly. This primarily affects energy-intensive sectors such as steel, cement, aluminum and hydrogen.
From August 1, 2024, companies that import goods affected by CBAM will be required to report the actual CO2 emissions of their products. This poses new challenges for many companies, as obtaining and processing this data is often complex and time-consuming.
The CBAM transition period is coming to an end and it is now mandatory to register as a CBAM applicant. By the end of 2024, companies must obtain data from their suppliers and manufacturers in order to correctly determine actual emissions. From August 2024, the use of real data will become mandatory and the EU will require companies to document their data collection efforts. Full application of CBAM will begin in 2026, with mandatory certificates for the import of CBAM goods and strict controls.
1. avoidance of sanctions:
Registering as a CBAM applicant is not only a legal obligation, but also a prerequisite for participating in the CBAM system. If you do not register in time, you risk not only compliance problems but also financial penalties. The process can take up to 180 days, which is why early registration is advisable.
2. transparency and efficiency in reporting:
By registering as a CBAM applicant, companies have the opportunity to standardize their reporting and collect the necessary data in a transparent manner. This not only facilitates the correct calculation of emissions, but also the subsequent recording and submission of the required certificates.
3. use of technologies to increase efficiency:
Modern SRM (Supplier Relationship Management) solutions such as Tacto offer companies an efficient way to collect and manage the necessary data. Tacto integrates all relevant supplier and product data into a central platform and automates reporting and communication with suppliers. This saves time, reduces errors and improves the quality of the data.
4. early preparation for future requirements:
From 2026, it will be necessary to purchase CO2 certificates in order to continue importing affected goods. Early registration and data maintenance will allow companies to prepare for the rising costs and better understand the impact on their cost structure.
How Tacto supports you with the implementation
Tacto offers a user-friendly solution for the efficient implementation of CBAM. The platform not only makes it easy to register as a CBAM applicant, but also to manage and maintain the data required for reporting and determining emissions. The solution integrates seamlessly with existing ERP systems and automates data collection and communication with suppliers.
Registering as a CBAM applicant is a necessary measure to meet EU requirements and remain competitive in the long term. Use the remaining time to prepare for the upcoming changes and take the right steps. Tools such as Tacto offer you the support you need to implement the process efficiently and error-free.
Don't miss the opportunity to register early as a CBAM applicant and pave the way for a sustainable and future-proof supply chain. Act now to minimize risks and secure your competitiveness.
