Energy Transition: The Regulatory Pulse of Belgium’s Hydrogen Strategy
As the global focus shifts towards clean energy, hydrogen has gained an increased attention and emerges as a frontrunner in the race to decarbonize the EU economy. Acting as a versatile energy carrier, hydrogen has the potential to accelerate energy transformation in various sectors including transport, and energy storage. Most importantly, hydrogen combustion does
A Milestone for EU’s Energy Transition: The Revised Renewable Energy Directive (RED III) Published in the EU OJ
Last week marked a milestone moment for the EU advancing its climate change agenda, as the revised Renewable Energy Directive, known as RED III, was formally published in the EU’s Official Journal (1). The Directive is part of the Fit for 55 package of legislative proposals, of the EU policy strategy to reduce net greenhouse
Clarification on CBAM Reporting Requirements
CBAM (Important Update): Clarification on Reporting Requirements On 20 October 2023, the Federation of Belgian enterprises (VBO/FEB) hosted a CBAM information session with the participation of the European Commission (DG TAXUD) and two Federal Public Services (FOD/SPF), Finances and Public Health. During the session, PwC raised an important question regarding the definition of the Reporting
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
