The new EU border adjustment mechanism for CO2, “CBAM”, will start shortly. The German Chamber of Commerce and Industry (DIHK) warns that European climate protection ambitions should not put the German economy at an international competitive disadvantage.
The “hasty and very bureaucratic implementation” of the “Carbon Border Adjustment Mechanism” (CBAM), which provides for a CO2 border adjustment tax for the movement of goods with third countries, means a considerable burden for many German companies, criticizes DIHK foreign trade chief Volker Treier. In order to prepare for the start scheduled for October 1st, the companies needed important information that was still missing.
Treier makes it clear that improvements, for example in the form of minor limits and time extensions, are urgently needed in view of the legal uncertainty, especially with the highly complex calculation and verification methods. He calls on the relevant authorities of the federal government and the EU Commission to quickly launch a large information query and create a “CBAM self-assessment tool” that can particularly support small and medium-sized companies with administration.
Competitiveness and sustainability
“In times of the energy crisis, it is more important than ever for the German economy that European climate protection ambitions do not become an international competitive disadvantage. “For energy-intensive sectors, uniform competitive conditions are necessary worldwide,” explains the DIHK head of foreign trade.
Although CBAM addresses the “carbon leakage” problem for certain sectors of the economy – i.e. the phenomenon that companies relocate their activities to countries with low climate protection standards – it also puts a strain on the competitiveness of the export industry on global markets.
“It is therefore important to quickly implement the international climate club with all relevant trading partners in a binding form - also in order to avoid international trade conflicts,” said Treier.
