The UK Government has launched a consultation on a UK Carbon Border Adjustment Mechanism, or UK CBAM. So, what actions can you take now in preparation for this?
If you are a UK importer of an in-scope product, we are recommending that you take three steps:
- undertake an impact assessment based on the most recent import data set you have
- consider a governance review of your customs coding, and
- as the underlying policy intent of CBAM is to encourage decarbonisation, are there corresponding opportunities to make changes to your business model and supply chain?
We’re keeping an update of the UK CBAM here, but if you would like to know more about UK CBAM, or if you would like help with any of the recommended actions, please do get in touch.
