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CimpactPro CORP
Corporate Carbon Footprint Calculation and Reporting Software.
CimpactPro CBAM
Border Carbon Regulatory Mechanism (CCRM) Declaration Software.
CimpactPro ESG
Sustainability / ESG Reporting and Management Software. (GRI)
CimpactPro CITY
Emissions Management and Reporting Software for Cities and Municipalities (GPC)
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Keep Your Money in Your Country: The Financial Impact of Local ETS Systems on CBAM
The Power of Offsetting in CBAM
As the Border Carbon Adjustment Mechanism (CBAM) comes into effect, a critical question is whether countries have their own Emissions Trading Systems (ETS). So, if a country has its own ETS, what is the impact on the CBAM process? The answer is quite clear: A direct and positive financial impact.
EU's Message: "It's not about revenue, it's about protecting the planet"
Underlying this influence is the European Union's approach to the issue. The EU clearly states: "My goal is to save the world, not to take your money."
Based on this philosophy, if you have paid a carbon price or tax in your own country and at your own production location under the "polluter pays" principle, the EU recognizes this. If you can prove this payment at the border, the EU undertakes to deduct this amount from the total tax you have to pay at the border.
How Does the Offset Mechanism Work?
The mathematics of the system is quite simple and protects the producer. Let's explain this with an example:
Let's say the CBAM tax you have to pay for your product at the European border is calculated as 100 Euros.
Scenario 1:
If you have paid 50 Euros at home under the ETS system in your home country, you will only pay the difference, i.e. 50 Euros, at the border.
Scenario 2:
If you have already paid 100 euros in your home country, you will pay zero at the border.
A Great Incentive for Green Transformation
As a result, this mechanism is a strategic incentive for countries. By setting up their own ETS systems and collecting carbon fees, countries prevent this money from going to Europe as funds. Instead, it ensures that the money collected stays within the country. Thus, instead of transferring this resource to Europe, countries can use it to finance their own green transformation. This creates a win-win situation for both the local economy and global environmental goals.