How does it work?
The CBAM solution includes:
Checking sourcing patterns and CN codes of imported goods against the list of relevant CBAM goods;
Support with emission data collection from the non-EU suppliers;
Support with the CBAM quarterly reporting via consultancy services and / or by using PwC CBAM reporting software.
As of 1 October 2023, companies importing CBAM goods acquired from suppliers that operate in a non-EU country are required to prepare and submit a CBAM quarterly report which contains the embedded emissions of the respective CBAM goods.
Failure to comply with the reporting obligation exposes the reporting declarant to a risk of financial penalties of up to EUR 50 per tonne of unreported emissions. The penalty shall increase in accordance with the European index of consumer prices.
Advantages of the PwC solution:
You can check whether goods imported, and sourcing patterns are within the scope of the CBAM.
You can detect exemptions from CBAM reporting.
You can identify the relevant data that needs to be collected from the non-EU suppliers.
You can fulfill the CBAM quarterly reporting obligation either through the CBAM Transitional Registry or via reporting software.
You can estimate the impact on CBAM on your own operations, as well as on the value and supply chain, the “greenness” of the supplier’s installation and production process in relation to CBAM default values.
You can estimate the future cost of CBAM certificates.
If you are interested in the CBAM solution, contact us here.
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