15 June 2023

Preparing for new carbon levies

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 re-read the article before attempting the questions again

  1. What does CBAM stand for?

  2. Which of these is a challenge around CBAM?

  3. Which of the following statements is correct? Statement 1, CBAM will incorporate the free allowances available under the ETS, or statement 2, CBAM is aligned with the phase-out of the free allowances available under the ETS

  4. Which of these is NOT a product that is covered in the first phase of CBAM’s implementation?

  5. When is full inclusion of products covered by CBAM planned for?

  6. When will CBAM’s initial transition period end?

  7. Which of the following statements is correct? Statement 1, from 1 October 2023, businesses must report on carbon emissions in goods imported into the EU, or statement 2, from 1 October 2023, businesses must report on carbon emissions in goods exported from the EU

  8. From January 2026, how much of a declarant’s embedded emissions must be be covered by CBAM certificates for each quarter end?

  9. Which products will be covered by the time CBAM is fully implemented?

  10. From January 2026, for businesses that cannot provide embedded emissions data, what will the levy be based on?

1 unit