- cement;
- steel;
- electricity;
- aluminum;
- fertilizers.
“It is recommended to conduct an assessment of the carbon in the affected products; together with the creation of responsible CBAM business functions and an emissions calculation system embedded in the production of the affected products, taking into account the supply chain, so that reporting obligations can be met. It should also include (where possible) indirect emissions created during the production process of these products," the material emphasized.China ranks 2nd (after russia) in terms of the number of imports covered by the CBAM. This represents less than 2% of China's exports to the EU, or €6.5 billion in 2019. The impact may become more significant if the scope of covered products expands. Although the cost of CBAM is currently relatively small and can be secured through price increases, it creates a number of opportunities for low-carbon producers. For example, steelmaking technologies in China such as direct iron recovery (DRI) could profit from CBAM, while high-carbon technologies such as blast oxygen furnace (BF-BOF), which are more common, are likely to will face additional costs for CBAM. The paper noted that efficient low-carbon manufacturers may prefer to base the level of embedded emissions in their products on actual emission levels rather than using the proposed default values. This must be confirmed by an accredited verifier. For this reason, production facilities may require registration in a central EU database. For goods produced at these registered facilities, the importer may use the verified information disclosed to him to fulfill his verification obligations. This can be used by importers for their declarations for five years. Verifiers already accredited under the EU ETS will be considered accredited verifiers under the CBAM. National accreditation bodies in EU member states may accredit additional verifiers after verifying their ability to perform CBAM inspections. Earlier, EcoPolitic wrote, that on June 22, European Parliament supported the introduction of CBAM on a repeat vote. As EcoPolitic previously reported, the British Government undertook to hold consultations on the proposals of the Environmental Audit Committee on implementation of internal CBAM to tackle carbon leakage.
