As major downstream users of steel and aluminium, European materials handling equipment manufacturers are heavily impacted by the Carbon Border Adjustment Mechanism (CBAM).
9 months after the beginning of the transition period, companies are faced with numerous challenges to fulfil their reporting obligations. FEM takes stock of these and puts forward concrete recommendations to facilitate compliance:
• Allow unrestricted use of default values to overcome unresolvable challenges to get emissions data from suppliers
• Encourage customs authorities to release data to importers
• Provide guidance on how to carry out the reporting
• Extend the grace period from one to two months
• Extend the reporting cycles from quarterly to biannual
• Simplify reporting templates
In addition, FEM calls on the European Commission to assess the exact impact of CBAM on competitiveness of European downstream users and propose offsetting measures accordingly.
Read the full paper HERE
