Narendra Babu . G’s Post

🌍 Have you heard about the Carbon Border Adjustment Mechanism (#CBAM) and its impact on global trade? The Carbon Border Adjustment Mechanism (CBAM) is an EU initiative aimed at reducing carbon leakage and promoting fair competition. By applying a carbon price to imported goods from regions with lower environmental standards, CBAM encourages greener production practices globally. Industries like steel, aluminum, cement, and fertilizers are particularly affected, facing new challenges and opportunities in sustainability and competitiveness. Stay tuned as we explore CBAM's implications and how DQS can guide your business through this transformative shift. Read more - https://lnkd.in/gTFVU7fC #SimplyleveragingQuality #Sustainability #DQS #GlobalTrade #Steel #Aluminum #Cement #Fertilizers #

🏭🛂 CBAM: Transition from default values to actual emissions for imports since July 1st. 💼 July 1st maked the start of a new phase in CBAM compliance! 🏭🌱 Importers, take note! From July 2024, you'll need to report actual emissions for products like iron, steel, cement, aluminum, fertilizers, and electricity. 📊🔍 It's time to gear up for this major shift. Start gathering emissions data now to ensure compliance and avoid potential levies. 💡💰 🔑 Key Takeaways from the First Reporting Cycles: 1. Precision is paramount – accurate data is indispensable. 2. Proactivity pays off – early preparation can save you from last-minute hassles. 3. Partnership is powerful – collaborate with manufacturers for seamless data acquisition. Are you ready for the CBAM transition? Let's make sustainability the core of our trade practices! 🤝🌳 #EYBelgium #CBAM #Sustainability #CarbonEmissions #Trade #Manufacturing #EmissionsData #EU #ClimateAction #BusinessPreparation #EnvironmentalImpact #GlobalTrade #EcoFriendly #GreenEconomy #Innovation

🏭🛂 CBAM: Transition from default values to actual emissions for imports since July 1st. 💼 July 1st maked the start of a new phase in CBAM compliance! 🏭🌱 Importers, take note! From July 2024, you'll need to report actual emissions for products like iron, steel, cement, aluminum, fertilizers, and electricity. 📊🔍 It's time to gear up for this major shift. Start gathering emissions data now to ensure compliance and avoid potential levies. 💡💰 🔑 Key Takeaways from the First Reporting Cycles: 1. Precision is paramount – accurate data is indispensable. 2. Proactivity pays off – early preparation can save you from last-minute hassles. 3. Partnership is powerful – collaborate with manufacturers for seamless data acquisition. Are you ready for the CBAM transition? Let's make sustainability the core of our trade practices! 🤝🌳 #EYBelgium #CBAM #Sustainability #CarbonEmissions #Trade #Manufacturing #EmissionsData #EU #ClimateAction #BusinessPreparation #EnvironmentalImpact #GlobalTrade #EcoFriendly #GreenEconomy #Innovation

📊 Breaking down the EU's Carbon Border Adjustment Mechanism (CBAM): How will it impact your industry? The CBAM is set to reshape international trade, but many are still unsure about its specifics. Let's dive into the heart of the matter: the methodology for calculating embedded emissions. Here's what you need to know: 1️⃣ Scope of Goods: CBAM currently covers cement, iron, steel, aluminum, fertilizers, electricity, and hydrogen. Products are identified using CN codes. 2️⃣ Emissions Data: Both direct and indirect greenhouse gas emissions are considered. 3️⃣ Calculation Process: Importers can use EU-provided default values or actual data from suppliers to determine CO2 equivalent emissions per unit of production. 4️⃣ Reporting: Quarterly reports during the transitional period, detailing import quantities and corresponding emissions. Understanding these aspects is crucial for businesses operating in or with the EU. Are you prepared for CBAM's impact on your operations? Share your thoughts or concerns in the comments! Let's discuss how we can navigate these changes together. #CBAM #EUTrade #SustainableBusiness #CarbonEmissions

🌍 How the EU CBAM Will Impact Industrial Manufacturing The EU’s Carbon Border Adjustment Mechanism (CBAM) is transforming the industrial manufacturing sector, impacting costs and supply chains for materials like steel, iron, cement, and aluminium. PwC’s latest article, "The Impact of EU CBAM on Industrial Manufacturing," outlines strategies for financial impact analysis, supply chain optimization, and sustainable growth. 🔗 Read more to prepare your business for CBAM: https://lnkd.in/dtFCKEJb #Sustainability #CBAM #IndustrialManufacturing #PwCInsights

As central element of the Green Deal, #CBAM is at the heart of the EU climate policy. However, as a carbon levy on EU imports it is a #trade measure as well ⚔ Based on the latest EU trade data for 2023, our analyses show that EU imports of CBAM goods have: 📦 a total value of EUR 94bn making ca. 4% of all EU imports from third countries ☁️ embedded emissions of 245 Mt CO2e covering direct and indirect emissions, mostly from iron & steel 💰 total costs of over EUR 14bn with a fully phased-in CBAM levy at 2023 EU-ETS prices 🏭 For individual firms, their CBAM costs exposure will vary greatly depending on the emissions intensity of imported CBAM goods, the imported amount, and also, the country of origin. Read more in our blog, link is in the comment. #GreenDeal #ClimatePolicy #CarbonPrice #CO2

Our latest CBAM alert elaborates on how you can best prepare your company for this change. 💡July 1st marked the start of a new phase in CBAM compliance! You'll need to report actual emissions for products like iron, steel, cement, aluminum, fertilizers, and electricity that you bring into free circulation from as from the third quarter of 2024. 📊🔍 It's time to gear up for this major shift. Start gathering emissions data now to ensure compliance and avoid potential infringements. 🔑 Key Takeaways from the First Reporting Cycles: 1 - Precision is paramount – accurate data is indispensable. 2 - Proactivity pays off – early preparation can save you from last-minute hassles. 3 - Partnership is powerful – collaborate with manufacturers for seamless data acquisition. Are you ready for the CBAM transition? Let's make sustainability the core of our trade practices! 🤝🌳 #EYBelgium #CBAM #Sustainability #CarbonEmissions #Trade #Manufacturing #EmissionsData #EU #ClimateAction #BusinessPreparation #EnvironmentalImpact #GlobalTrade #EcoFriendly #GreenEconomy #Innovation

Last but not least in our #CBAM series comes aluminium! European smelters, casting and processing industries will feel the impact of #carbonpricing from 2026. Integrating the latest 2023 EU #trade data and global #climatepolicy, our analysis reveals for EU’s imports of aluminium covered by CBAM: 📦 A total of 6 Mt across 56 CN codes were imported in 2023, amounting to EUR 21 bn ☁️ These imports contained direct and indirect embedded emissions of 67 Mt CO2e, mostly from unwrought aluminium 💱 13 non-EU countries already have a carbon price for aluminium, covering 35% of these emissions 💰 EU importers could incur a total carbon costs of over EUR 1 bn with a fully phased-in CBAM levy (calculated at 2023 EU ETS prices) As global carbon pricing for aluminium expands, there are increasing financial incentives to decarbonise the aluminium value chain. Along with the phase-out of free allowances in the EU #ETS, CBAM will raise CO2 costs and make low-carbon aluminium more competitive. Check our blogs for a cross-sectoral CBAM overview of embedded emissions and carbon pricing. See link in comments. 👇🏽 #Aluminium #Alumina #Metal

💰 The ABC's of CBAM 💰 CBAM (Carbon Border Adjustment Mechanism) launched in the EU in 2023: ⁉ Aims to curb carbon leakage by imposing a carbon price on imports to the EU from countries with lower environmental standards ⁉ By targeting high-emission sectors like steel, iron, cement and fertilizers, etc, EU importers face the challenge of reporting carbon footprints by October 2024 ⁉ Certificate purchase scheme kicks off in 2026 whereby EU importers will be able to ensure that the "carbon price" of their imports is the same as the "carbon price" of domestic production. 🌍 See how it may affect your business directly (or indirectly through your stakeholders), in the link in the comments below.🌍 #CBAM #CarbonReduction #Auditel we are here to help.