Posted on 07 Aug 2023
The EU’s Carbon Border Adjustment Mechanism (CBAM) will start trial operation on October 1, 2023, and will be officially operated from 2026.
According to Taiwan’s Ministry of Economic Affairs, nearly 2,000 manufacturers will be affected by the CBAM, and the total will be nearly 2,500 including traders. The affected manufacturers are mainly small and medium-sized enterprises of fasteners, steel, and aluminum products.
The first CBAM report should be submitted by January 31, 2024. The Ministry of Economic Affairs has reported to the EU that there are two major problems with the draft declaration regulations.
First, Taiwan’s manufacturers declare information to EU importers, but the EU doesn’t regulate confidentiality obligations, which may lead to concerns about leaking business secrets of manufacturers. Second, if intermediate products come from countries without a carbon footprint verification system, manufacturers may not be able to provide actual product carbon content.
Source:Yieh
