In italic : legislative date

23 April 2024 – CBAM Expert Group meeting

1 July 2024 – CBAM rules on the verification of embedded emissions; maximum use of default values (when reporting embedded emissions) goes down from 100% to 20%

31 July 2024 – Deadline to finalise 2023 CBAM declarations

Q3 2024 -Implementing Act  :

• Authorisation of CBAM declarants (two separate acts)
• Technical arrangements of CBAM Registry

Q4 2024 and Q5 2025 – Implementing Act and Delegated Act: accreditation of verifiers (IA+DA) & verification principles (IA)

Q4 2024 – Delegated act : sale and re-purchase of CBAM certificates

Q4 2024 – Implementing Act :

• Goods brought to the continental shelf or the exclusive economic zone
• Communication and information of imported goods at the border

Q4 2024 -Report by the EC on recommendations for the inclusion of other relevant downstream products of the goods listed in Annex I, including a methodology

Q1 2025 : Final deliverable of studies by the Commission on:

• Finalisation of default values
• Rules for monitoring, reporting and verification (MRV) of embedded emissions during the definitive period & adjustment for free allocation
• Adjustment for carbon price paid abroad

28 February 2025 – Deadline to finalise 2024 CBAM declarations

Q2 2025 – Implementing Act

• CBAM Declaration
• Calculation of embedded emissions
• Carbon price paid in third countries
• Price of CBAM certificates
• Adjustment for free allocation

Q2 2025 : Final deliverable of studies by the Commission on:

• Scope extension to indirect emissions
• Scope extension upstream and for new goods and transport services
• Scope extension to downstream goods

Q4 2025 & Q3 2028- Report by the EC on an assessment of the reports submitted by third countries on the fulfilment of conditions to be exempted from CBAM for electricity as a CBAM good

Q4 2025 – Report on the application of CBAM, including on possibility to extend the scope

Q4 2025 and every year thereafter – Report on impact on LDC’s (decarbonisation of manufacturing industries)

31 December 2025: the CBAM is implemented as a transitional measure, with obligations limited to monitoring and reporting

1 January 2026 – start of the definitive period, CBAM implementation :

• the Commission is empowered to modify the list of goods subject to the CBAM for anti-circumvention purposes
• Importers will need to declare each year the quantity of goods imported into the EU in the preceding year and their embedded GHG. They will then pay for it with the corresponding number of CBAM certificates

28 February 2026 – Deadline to finalise 2025 CBAM declarations

Q3 2027 – Report by the EC on the delegation of power to adopt delegated acts

Q4 2027 and every two years thereafter – Reports by the EC on CBAM functioning, its impacts (internal market, consumer prices, industries, trade) and possible adjustments in application (scope, governance)

Q4 2027 and every two years thereafter – Report by the EC on impact on exports

30 April 2024 – Results of the European Hydrogen Bank’s first auction

June 2024 (TBC) – Public consultation & publication of draft Delegated Act on the inclusion of permanent CCU in the EU ETS

By 2025 : The European Commission develops a step by step guidance for permitting processes for net-zero

By early 2026 :

• The EC creates an EU-wide investment atlas of potential CO2 storage sites
• A platform for demand assessment and demand aggregation for C02 transport or storage services

By 31 July 2026 – EC report on how and if carbon removals could be accounted for and integrated into the EU ETS

2028 – CRCF reliable and harmonised certification methodologies

In italic : legislative dates

2024 – Decrease of 25% in free allocation to the aviation sector

By 30 June 2024 – Implementing Regulation : Detailed rules for calculating CORSIA-related offsetting under Article 12(7) of EU ETS Directive

By 31 August 2024 – Implementing Regulation : Detailed rules for monitoring and reporting the non-CO2-effects of aviation (Article 14(5) of EU ETS Directive)

By the end of 2024 – Delegated Act : Support mechanism for the use of eligible fuels, which will distribute emission allowances to cover the price difference to kerosene

By the end of 2024 – Delegated Act : amending the ETS Monitoring & Reporting Regulation to include requirements for reporting the use of CORSIA eligible fuels and unit cancellation

2025: Implementing decision on the list of credits eligible for CORSIA offsetting under the ETS Directive (Article 11a(8))

March 2025 – First reporting by airlines of their fuel use (covering 2024)

2025 – Monitoring and reporting by aircraft operators of non-CO2 effects

2025 – Decrease of 50% of free allocation to the aviation sector

2026 – European Commission to publish results on non-CO2 effects of air transport

2026 – European Commission to carry out an assessment of CORSIA to see if it’s sufficiently delivering on the goals of the Paris Agreement.

2026 – Full auctioning of emission allowances to aviation (phase-out of free allowances to the aviation sector)

2027 – EU carbon pricing may start to apply to international flights, depending on the conclusion of the assessment of CORSIA’s efficiency to meet the goals of the Paris Agreement

9 April 2024 – Closing of the 2023 Innovation Fund call