Carbon Border Adjustment Mechanism (CBAM)
Carbon Tax on Imported Goods in the European Single Market
With more than 200 environmental labels active in the EU, and more than 450 active worldwide; it is difficult for consumers, companies, and other market actors to make sense of the many environmental labels and initiatives on the environmental performance of products and companies. In addition, greenwashing (when companies give a false impression of their environmental impact or benefits) misleads market actors and does not give due advantage to those companies that are making the effort to green their products and activities.
It is important that claims on the environmental performance of companies and products are reliable, comparable, and verifiable across the EU. For that reason, companies will have to start substantiating their environmental claims against a standard methodology to assess their impact on the environment.
This initiative will seek to help the Union to make sustainable goods, services and business models the norm and to transform consumption patterns in a more sustainable direction. It aims to significantly reduce the environmental footprint of products consumed in the Union and contribute to the overall policy objective of EU climate neutrality by 2050.
This offering is part of the wide DNV sustainability services portfolio that includes Life Cycle Assessment and Product Environmental Footprinting services. In addition, DNV offers a unique Digital Product Passport service to its customers, which enables them to meet the requirements for digital availability of compliance information, as well as additional communication and post-market traceability services.
Reach out to our team of experts to see how we can support in your overall EU Green Deal strategy and compliance needs.