What EU Carbon Border Adjustment Mechanism (EU) 2023/956 - Article 12: Purchase, Surrender and Repurchase of CBAM Certificates requires
Article 12 of the EU CBAM Regulation (2023/956) governs the financial mechanism for CBAM compliance: the purchase, surrender and repurchase of CBAM certificates. CBAM certificates are sold by national competent authorities at a price equal to the weekly average auction price of EU ETS allowances (expressed in EUR/tonne CO2e). Authorised declarants purchase certificates through the national CBAM registry and must surrender certificates equal to embedded emissions declared in their annual CBAM declaration by 31 May each year. Certificates that were not surrendered and exceed one-third of total certificates surrendered in the previous year must be repurchased by the national competent authority at the purchase price. The certificate price tracks the EU ETS carbon price, creating a direct link between CBAM compliance costs and EU carbon market prices. Certificates have no fixed expiry date but are subject to the annual surrender and repurchase cycle.
Pillar: Sustainability & ESG · Authority: European Parliament and the Council of the European Union · Version: 2.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R0956
SHA-256 integrity: 1002051adefb1815d2a7009d07210b51693b26594029fafb57ded9d685f3f8ca
Primary Citations — 8 traced to source
- Article 12 — EU CBAM Regulation (EU) 2023/956 - Article 12: Purchase, Surrender and Repurchase of CBAM Certificates
- Article 19 — EU CBAM Regulation (EU) 2023/956 - Article 19: Penalties for Non-Compliance
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