24 January 2024

Many not ready for CBAM

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

  1. When does the transition phase of the EU's Carbon Border Adjustment Mechanism end?

  2. What is the penalty for incomplete or incorrect quarterly reports under CBAM during the transition phase?

  3. Which sectors does CBAM's first phase cover?

  4. What is the minimum consignment value for importers to fall under CBAM coverage?

  5. What is the deadline for the first quarterly report under CBAM during the transition phase?

  6. What does CBAM's first phase aim to achieve for businesses and countries?

  7. During the first three reporting cycles until July 2024, what can importers use if they don't have actual embedded emissions data?

  8. What does Step three of CBAM readiness involve?

  9. What information does not need to be included in the CBAM report during the transition phase?

  10. Which of the following is not listed as one of the necessary actions to take since 1 October 2023?

1 Unit