Sustainable corporate governance is the ultimate goal
With the Green Deal, the EU has launched an initiative to establish sustainable corporate governance as a European standard. Special attention is given to human rights and environmental protection. A key element of these measures is to promote transparency in the supply chains and value chains of European companies through regulation.
Avoiding Carbon Leakage and meeting the requirements of the European Emissions Trading System (EU ETS)
The Carbon Border Adjustment Mechanism (CBAM) is part of the European Union’s ‚Fit for 55‘ package and provides for the gradual introduction of a price on certain emission-intensive goods imported into the EU from third countries. Companies in the EU that import iron, steel, cement, aluminium, electricity, fertilisers or hydrogen in pure or processed form from non-EU countries will have to report separately on all imports on a quarterly basis from 1 October 2023. Pricing will be based on the purchase of so-called CBAM certificates and is intended to compensate for possible competitive disadvantages of goods produced in the EU. In a transitional phase from October 2023 to the end of 2025, no certificates will have to be purchased, but EU companies will have to report on their imported CBAM goods and their direct and indirect emissions from 2024, starting in the fourth quarter of 2023.
Features of our solution
The CBAM certificate price is determined by the weekly average of the European Emissions Trading Scheme (EU ETS) certificate prices, which ensures alignment with the conditions of the EU ETS. The Carbon Border Adjustment Mechanism applies to direct emissions, i.e. greenhouse gases emitted from the production of goods until they are imported into the EU, but also to indirect emissions resulting from the generation of electricity for the production of goods covered by the Regulation. If a CO2 price has already been paid in the country of origin, the cost can be offset against the CBAM certificate to avoid double taxation.
Centralised upload & allocation
Automate the initial verification of your import declarations
As a first step, our solution automatically checks all your import declarations after a central upload and assigns the goods to specific product groups. At the same time, the import declarations are automatically assigned to reporting periods and customs clearance dates to ensure that the legally required quarterly CBAM report is generated correctly. To this end, the EU will provide default values for categorising the CBAM goods specified in the import declarations by the end of June 2024, as exact emission values are not yet available from suppliers in the transition phase.
Readiness check & supplier enquiry
Make your suppliers aware of CBAM requirements
Our solution provides an automated initial contact function with suppliers and operators, the so-called ‚Readiness Check‘, which determines whether they are currently able to provide accurate emissions data from the manufacturing process of CBAM goods, or will be able to do so by Q3 2024 at the latest. This will sensitise your suppliers to the challenges of CBAM and facilitate subsequent reporting processes.
Aggregate & calculate emissions and allowances
Calculate your emissions based on accurate data
After a thorough check of the accuracy and reliability of the data provided by type of goods (CN code), the required CBAM certificates are calculated on the basis of the CBAM-relevant import declarations. Both direct and indirect emissions are taken into account to provide a complete picture of the environmental impact of imported goods.
Report generation & alerting
Automatically create your CBAM report
Our solution automates the generation of a CBAM report based on the data collected, providing a detailed breakdown of the total quantity of each type of good produced and the associated CO2 emissions. CO2 prices already paid in the countries of production are also taken into account.
Data export & reporting
Submit your CBAM report quickly and seamlessly
The solution’s built-in alert function, which also enables communication with internal interfaces, automatically reminds you of all quarterly report deadlines. The CBAM report can be created in XML format, allowing you to quickly export all the necessary supporting documents for submission to the EU.
Benefits of our solution
The core elements of our CBAM solution ensure structured and efficient control and assessment of emissions as part of the import process for your goods. Processes are optimised through automation, ensuring smooth operations and a sustainable competitive advantage.
End-to-end compliance
Meet the demands of CBAM and implement your action requirements holistically, efficiently and securely.
Automated and fast
Automate reporting processes to minimise manual effort and produce CBAM reports quickly and compliantly.
Proactive & process driven
Our solution simplifies the complex reporting process, guiding you through each step of the process and proactively alerting you to deadlines at the right time.
Compliant & reliable
Our solution has been developed with legal advice from Graf von Westphalen, a law firm specialising in ESG legislation, and is strictly based on the legal requirements of CBAM.
Fits all company sizes
Whether you have 10 or 10,000 suppliers, our solution meets the needs and is adaptable to companies of all sizes.
Holistic ESG approach
Leverage information from different osapiens HUB solutions and use it to comply with other ESG regulations.
Learn more about CSRD
Establish seamless CBAM compliance with osapiens HUB for CBAM.
Trusted by hundreds of companies from all industries
The osapiens mission
We help companies grow with corporate sustainability. With our unique software solutions, we are revolutionising supply chains to help companies not only achieve economic success, but also make human rights and environmentally sustainable and responsible business practices the global standard. We are committed to laying the foundations for an ESG-compliant future.