From 1st October 2023, the new EU draft law – the Carbon Border Adjustment Mechanism (CBAM) – will enter into force with a 3 year transition period following, during which only reporting obligations will apply.
CBAM Effects
The CBAM is one of several tax and carbon price reforms proposed as part of the EU’s Green Deal. CBAM’s goal is to combat climate change by reducing greenhouse gases by minimum 55% by 2030 and protecting jobs. Things like, for example, plastics, hydrogen, organic chemicals, including printing products like ink cartridges, fall into the list of products that CBAM encompasses. Other products also include, fertilisers, aluminium, cement, electricity, iron etc.
What does this mean for carbon-reliant industries? Most notably, effects on environment and “carbon leakage” will decrease significantly and be a step towards achieving EU climate goals. EU citizens will have the opportunity to purchase products from a market that is open to environmentally friendly resources! Businesses that focus and invest more into their environmental impact will surely benefit from CBAM, since importing into EU countries will be easier. CBAM will also encourage producers in non-EU countries to green their production processes.
InknTonerUK’s contribution to a more positive Environment
At InknTonerUK, we try to do what we can to recycle and decrease our impact on the environment. Buy our remanufactured ink cartridges and do your part to help our planet! Help us make a change today!
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