EU market environmental protectionism: Ukraine received a signal to prepare for CBAM
The European carbon tax on imports is gradually becoming a reality. Ukrainian exports are on the verge of new trade conditions for working with the EU, at the root of which are now not political ambitions, but environmental issues.
The world community has already received the first outlines of the future Carbon Border Adjustment Mechanism (CBAM), according to which almost a third of Ukrainian export-oriented businesses need to start preparing to enter the European market.
In particular, the document records the plan for the implementation of the CBAM, reveals the mechanism for forming the tax body, specifies the list of goods and new control and audit bodies that will regulate the receipt of funds.
The European Commission intends to officially present this document for consideration by the Member States and the European Parliament on July 14 this year. The relevant European bill can be adopted and start working as early as 2023, and will have a direct and significant impact on Ukrainian exports to the EU of such commodity items as metals, mineral fertilizers, cement and electricity.
UBTA, as an association of Ukrainian exporters, has developed the first infographic on CBAM and will actively monitor the process of its preparation and consideration.