KPMG Trade Data Check CBAM

The Carbon Border Adjustment Mechanism (CBAM for short) is being introduced gradually and started with a reporting obligation in October 2023. Since then, importers of energy-intensive goods - initially including cement, electricity, fertilizers, aluminium, iron, steel, hydrogen and some upstream and downstream products - must disclose the quantities imported from other EU countries, the direct and indirect CO2 emissions contained therein and any CO2 levies already paid in the country of production on a quarterly basis.

However, the necessary data collection poses problems for many companies. For example, there is often no overview of which products are imported from where. However, this information is necessary in order to be able to measure emissions along the supply chain. In addition, the values to be reported should also be based on actual values according to the legislator, so the cooperation of the suppliers is absolutely essential. Although there are official default values that companies can use on a transitional basis to fill gaps in the absence of supplier cooperation, these values may only be used without restriction until July 2024. Inadequate reporting or failure to meet deadlines may result in fines.

We have added the CBAM requirements to our tried-and-tested KPMG Trade Data Check. This enables us to provide you with comprehensive and technology-supported support in this administrative process - starting with the impact analysis based on your import declaration data, through the collection of supplier data and its validation, to the generation of the CBAM report at the end of the quarter.