Invitation to an Informational Event on the Establishment of the Carbon Border Adjustment Mechanism
We would like to inform you that the Department of Environment of the Ministry of Agriculture, Rural Development, and Environment, in collaboration with the Customs Department of the Ministry of Finance, is organizing an informational presentation on the new Regulation titled:
‘Regulation (EU) 2023/956 of the European Parliament and of the Council of 10 May 2023 establishing a carbon border adjustment mechanism’
The event will take place in the multipurpose hall at the central building of the Ministry of Finance on Thursday, September 14, 2023, at 9:00 a.m.
The new Carbon Border Adjustment Mechanism (CBAM) imposes a price on carbon dioxide emissions used in the production of certain categories of products imported into the EU from countries where carbon is either not taxed or taxed disproportionately compared to the prevailing conditions within the EU. These obligations are expected to be implemented by October 1st, 2023, and until the end of 2025, and during this period, businesses will be required to submit reports only.
The scope of the Mechanism will cover the following products:
a) Iron and steel,
b) Cement,
c) Aluminum,
d) Fertilizers,
e) Electricity, and
f) Hydrogen.
For more information regarding the event and to register your participation, please contact Ms. Chryssalla Papastavrou, Environmental Officer A’ (tel. 22408962, cpapastavrou@environment.moa.gov.cy ), and Ms. Maria Stella Spyrou, Customs Officer (tel. 22601680, mspyrou@customs.mof.gov.cy ).
Find the related announcement and other information here.
