European Union (EU) Initiatives: The EU will include shipping in the EU Emissions Trading System starting January 2024, introducing a phased approach for emissions pricing. The Carbon Border Adjustment Mechanism (CBAM) is another significant policy aiming to price carbon-intensive imported products to reduce greenhouse emissions and prevent carbon leakage. This includes a transitional reporting period starting in January 2024. Updates to the EU Combined Nomenclature will also take effect from January 2024, which will impact how goods are declared for customs and trade statistics.
Subscribe to Newsletter
