On the 3rd of August 2023, three industry groups, along with an anonymous business association in Japan, have expressed their strong opposition to the reporting obligations imposed by the EU's carbon border adjustment mechanism. Their concerns stem from the potential risk of disclosing sensitive and confidential information, such as pricing and costs, through these reports. Furthermore, they fear that Japanese products may face unfair treatment in comparison to those manufactured within the EU.The groups at the forefront of this opposition are the Japan Business Council in Europe, the Japan Aluminium Association and the Fasteners Institute of Japan. Additionally, an undisclosed Japanese business association has joined their ranks.The CBAM is set to be implemented in a phased manner, with a transitional phase running from October 1, 2023, to December 31, 2025. After this period, it will become fully operational from 2026 onwards. Initially, the CBAM's scope will cover imports of cement, iron and steel, aluminum, fertilizers, electricity, and hydrogen.
On the 3rd of August 2023, three industry groups, along with an anonymous business association in Japan, have expressed their strong opposition to the reporting obligations imposed by the EU's carbon border adjustment mechanism. Their concerns stem from the potential risk of disclosing sensitive and confidential information, such as pricing and costs, through these reports. Furthermore, they fear that Japanese products may face unfair treatment in comparison to those manufactured within the EU.The groups at the forefront of this opposition are the Japan Business Council in Europe, the Japan Aluminium Association and the Fasteners Institute of Japan. Additionally, an undisclosed Japanese business association has joined their ranks.The CBAM is set to be implemented in a phased manner, with a transitional phase running from October 1, 2023, to December 31, 2025. After this period, it will become fully operational from 2026 onwards. Initially, the CBAM's scope will cover imports of cement, iron and steel, aluminum, fertilizers, electricity, and hydrogen.
