British Marine helps members navigate the EU Carbon Border Adjustment Mechanism

by British Marine 8 Jul 2024 02:02 PDT

As the implementation of the European Union's Carbon Border Adjustment Mechanism (CBAM) gathers pace, British Marine is witnessing a surge in enquiries seeking guidance on meeting these new border requirements and how UK businesses can provide the relevant data to their EU based customers.

To assist members in navigating the complexities of the new EU regulations impacting exporters of key marine components, British Marine has developed comprehensive guidance, available on its new Decarbonisation Hub. This resource equips the UK marine industry with the critical information needed to identify relevant EU guidelines and requirements during the transitional phase for CBAM goods.

The CBAM is set to reshape international trade by requiring exporters to report greenhouse gas emissions for certain products entering the EU. The initial list of sectors includes those in which marine components may fall, such as Aluminium and Steel products and precursors falling within the following HS and CN codes:

• 7305 - Other tubes and pipes (for example, welded, riveted or similarly closed), having circular cross-sections, the external diameter of which exceeds 406.4 mm of iron or steel
• 7318 - Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter pins, washers (including spring washers) and similar articles, of iron or steel
• 7326 - Other articles of iron or steel
• 7608 - Aluminium tubes and pipes
• 7616 - Other articles of aluminium

The transition period commenced in 2023, with EU customers required to report these emissions nationally on a quarterly basis to the commission until 31 December 2025, after which the new regime will become mandatory. British Marine's Decarbonisation Hub provides the information needed to comply which includes understanding the calculation and reporting process for embedded emissions to your customers for them to submit.

Lesley Robinson, CEO of British Marine, stated: "As the EU CBAM ushers in significant changes for international trade, it is imperative that our members are both informed and prepared. With regular updates via our member communications and on our Decarbonisation Hub we can help demystify these regulations and support our members through this transition. This is a testament to our commitment to leading the marine industry towards a more sustainable and environmentally responsible future."

The Decarbonisation Hub supports British Marine's role in promoting sustainable practices within the marine sector. By facilitating easier access to comprehensive and pertinent information regarding the CBAM, maintaining competitiveness and ensuring compliance with new EU standards and other key information to help its members successfully navigate the transition to Net Zero by 2050.

Discover more about the CBAM and access the Decarbonisation Hub at www.britishmarine.co.uk/resources/decarbonisation-hub