Experts
CBAM shared their thoughts and real-world experiences to clarify the EU's emissions-based border control system in the MEPs' new podcast "Talking about Steel". To the Steel market analyst
, , , , , , , , , , , ,John Carruthers-Green was joined by carbon and energy specialist Andy Proctor and international trade expert Kieran McCann, who provided an update on CBAM in 40 minutes.
,As well as details from the European Commission's recent "document dump" series, this issue, which provides new details on the ongoing implementation of legislation, provides real-world examples of potentially costly compliance issues faced by steel importers.
Carruthers-Green expects that compliance with carbon boundary rules around the world will be a common consideration for both importers and exporters. He said: I'm going to speculate a bit and predict that in five or 10 years we may have more CBAM systems, not just in the EU or the UK.
"Each of them will be built a little differently. Each of them will have potential strengths, potential weaknesses, and potential loopholes."
Speaking about the upcoming changes to the European Commission's CBAM rules, Proctor shared information about the timing of carbon dioxide emissions checks by foreign steel producers. The first EU-approved inspection bodies are due to be appointed this month.
,The desire of carbon dioxide emissions assessment experts to improve their skills ,
,Proctor, who works at Auditel and is an ambassador for IACBAM (the International CBAM Association), described the recent publication of a 147-page EU document detailing the evaluation criteria for screening authorities as like reviewing an exam paper before sitting down at a desk. Exam. He added that there is now a race for qualified specialists who will ensure accurate monitoring of carbon dioxide emissions in foreign markets.
EU importers can significantly reduce their CBAM tax obligations once they can use verified emissions data from foreign steel producers to calculate their carbon costs. However, Proctor cautioned that in the near term, importers should continue to use EU-specific default emission values to calculate their potential CBAM costs.
McCann, head of sales at Allied Group, a Northern Irish company specializing in import compliance, said mistakes made in CBAM documentation could be costly. According to him
