The latest reform of emissions trading (EU ETS) as part of the ‘Fit for 55 package’ marks a decisive step towards achieving the EU’s climate targets. The reform, which will be adopted in 2023, will bring significant changes. In addition to adjusted emission targets and stricter emission limits, free allowances have been abolished and the CO2-border adjustment system „Carbon Border Adjustment Mechanism“ (CBAM) has been introduced.
Emissions trading is also being extended to other sectors. In addition to industry, energy companies and aviation, the buildings, road transport and maritime transport sectors are now also participating in the EU ETS. These changes are gradually coming into force and present companies with new challenges.
Your preparation for emissions trading
With this reform, the emissions targets were reduced by 19 %P to -62% by 2030, while the annual reduction factor for available allowances has been doubled. This is expected to lead to an increase in CO2 prices, which will further increase the pressure on companies. It is no longer enough to simply record emissions and meet reporting deadlines – early planning and implementation of reduction measures is essential. Investments often have to be made at an early stage in order to be effective in good time.
The reform also makes it essential to deal with the CBAM. This is intended to counteract the shifting of emissions abroad (carbon leakage) by imposing the EU CO2 price on imported energy-intensive products. Importers have had to report on embedded emissions since 2023 and will have to purchase and surrender corresponding certificates from 2026. Preparing for the CBAM requires comprehensive organizational and administrative measures.
Even companies that are not yet directly affected by the EU ETS and the reform should not wait. In view of current developments, reducing emissions will become increasingly relevant and will require a contribution from all companies, regardless of their sector or size.
Multiversum is at your side as a competent partner and supports you in positioning yourself in this new era. In addition to fulfilling compliance and reporting obligations, we have extensive expertise in the field of decarbonisation and references from various industries such as energy production, steel production and shipping. With effective measures, we support companies in strategically positioning themselves for the future, defining and implementing SMART goals or providing support through CBAM training. Contact us for customised advice on your questions about the new reform!
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