CBAM – Implementing act approved and guidance released
On 17 August 2023, the European Commission adopted the Implementing Regulation for the Carbon Border Adjustment Mechanism (CBAM). The approved Implementing Regulation and accompanying guidance: Confirms the reporting obligations for the CBAM Transitional Period, which commences on 1 October 2023. Furthermore, it confirms that the CBAM reporting requirements and methodology will provide some flexibility when
The EU Deforestation Regulation – it’s official! A Paradigm Shift for Sustainable Procurement and the Customs Organization
Global forests, as carbon sinks, play an important role in mitigating climate change by absorbing and storing greenhouse gases. The EU is a major consumer and trader of commodities that play an important role on deforestation and forest degradation, risking also their ecosystems worldwidely. To address these matters the EU has now taken a significant
The Carbon Border Adjustment Mechanism – It’s official!
Today, the CBAM (Carbon Border Adjustment Mechanism) was published in the Official Journal of the European Union. This means that there is no going back and that the regulation will enter into force as of tomorrow, 17 May 2023 and that it shall apply as from 1 October 2023. Read more on CBAM in our
CBAM gets green light from EU Parliament: a game-changer for carbon pricing and global supply chains
Earlier today, on April 18th, the European Parliament held its final vote on the Carbon Border Adjustment Mechanism (CBAM). CBAM is one of the elements of the EU Green Deal, the goal of which is to reduce GHG emissions by 55% by 2030. CBAM is aimed at ensuring a level playing field by equalizing the
Power Purchase Agreements and Contracts for Differences: unraveling the complexity!
The EC’s Electricity Market Reform Proposal The European Commission (EU) has proposed a reform to its electricity market design. The idea behind the reform is to accelerate the transition to renewables and reduce the dependency on Russian gas before next winter (1). The reform also aims to make consumer bills less dependent on volatile fossil
EU Green Deal Industrial Plan – Latest developments from the European Commission
Net Zero Industrial Act The EU Green Deal Industrial Plan is quickly becoming reality. This ambitious plan announced by Ursula Von der Leyen one month ago (1) sets out a comprehensive approach to support a green-tech scale-up based on four pillars: 1) simplified regulatory environment, 2) mobilising private and public funding, 3) upskilling workforce and
The EU is preparing for an overhaul of the EU’s energy market: Flemish and EU incentives can help companies thrive in this new energy landscape
Europe is currently facing a double energy crisis. On the one hand, the geopolitical tensions with Russia have substantially reduced the supply of natural gas, putting into jeopardy the block’s ability to meet its energy demand. On the other hand, climate change and the need for a more sustainable energy future has become a pressing
Flemish and European implications of the climate and energy crisis: government support for green industrial investments
Industrial green deal It is commonly known that green investments are on the rise, both in Flanders but also in Europe as a whole. With the expected policy changes at EU-level, these investments might receive an additional boost in the years to come. However, these investments are no easy task for European companies in the
