We would like to remind you that the Cyprus Chamber of Commerce and Industry (CCCI), in collaboration with the Department of Environment of the Ministry of Agriculture, Rural Development and Environment, is organizing an informational seminar on the Carbon Border Adjustment Mechanism (CBAM) for Cypriot Businesses. The seminar will take place on Thursday, May 23rd, from 10:00 am to 12:00 pm, on the 1st floor of the CCCI building in Nicosia.
What is the Carbon Border Adjustment Mechanism (CBAM) and who does it concern:
The Carbon Border Adjustment Mechanism (CBAM), Regulation 2023/956, entered into force in its transitional phase on October 1, 2023.
Any importer importing products falling within the scope of this Regulation from non-EU countries is obliged to submit quarterly reports to the CBAM Transitional Registry, according to imports made to the Republic of Cyprus.
During the transitional period, the Regulation will apply to six sectors:
- Cement
- Fertilizers
- Iron and steel
- Hydrogen
- Aluminium
- Electricity
The first reporting period for importers ended on January 31, 2024.
Already, the Department of Environment as the Competent Authority for the implementation and enforcement of the Regulation has addressed compliance letters to several Cypriot businesses affected by this regulation, urging them to promptly comply with the obligations arising from the Regulation.
Interested parties are kindly requested to confirm their participation by clicking here.
Kypros Antoniou | Officer at the Department of Industrial Development, Innovation and Environment.
