CBAM approved by EU Parliament. Next step: EU Council approval

On 18.04.2023, the EU Parliament approved the carbon border adjustment border mechanism (CBAM) together with other measures.

Now, the mentioned measures must be formally endorsed by the EU Council. They will then be published in the EU Official Journal and enter into force 20 days later.

In other words, as it is possible to read on the EU Parliament website: “…In adopting these pieces of legislation, Parliament is responding to the expectations of citizens for the EU to accomplish and speed up the green transition as expressed in Proposals 3(1), 3(8), 3(9), 11(1) and 11(7), of the conclusions of the Conference on the Future of Europe…”.

The AEO will be an interesting approach to this new customs obligation for the import of the covered commodities.