Preparing for new carbon levies

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

Which of the following statements is correct? Statement 1, from 1 October 2023, businesses must report on carbon emissions in goods imported into the EU, or statement 2, from 1 October 2023, businesses must report on carbon emissions in goods exported from the EU

Statement 1

Statement 2

Both statements

Neither statement

When will CBAM’s initial transition period end?

June 2025

December 2025

June 2024

December 2024

Which products will be covered by the time CBAM is fully implemented?

Non-ferrous metals

All of these

Chemicals and polymers

Paper

Which of the following statements is correct? Statement 1, CBAM will incorporate the free allowances available under the ETS, or statement 2, CBAM is aligned with the phase-out of the free allowances available under the ETS

Both statements

Statement 2

Neither statement

Statement 1

What does CBAM stand for?

Carbon Border Alignment Mechanism

Carbon Base Alignment Mechanism

Carbon Base Adjustment Mechanism

Carbon Border Adjustment Mechanism

1 unit

Preparing for new carbon levies

Which of the following statements is correct? Statement 1, from 1 October 2023, businesses must report on carbon emissions in goods imported into the EU, or statement 2, from 1 October 2023, businesses must report on carbon emissions in goods exported from the EU

When will CBAM’s initial transition period end?

Which products will be covered by the time CBAM is fully implemented?

Which of the following statements is correct? Statement 1, CBAM will incorporate the free allowances available under the ETS, or statement 2, CBAM is aligned with the phase-out of the free allowances available under the ETS

What does CBAM stand for?

From January 2026, how much of a declarant’s embedded emissions must be be covered by CBAM certificates for each quarter end?

Which of these is a challenge around CBAM?

From January 2026, for businesses that cannot provide embedded emissions data, what will the levy be based on?

Which of these is NOT a product that is covered in the first phase of CBAM’s implementation?

When is full inclusion of products covered by CBAM planned for?

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