Brief Description

The “CBAM Verification” service by TÜV AUSTRIA HELLAS is a specialized offering designed to support businesses that import Iron and Steel, Cement, Aluminum, Fertilizing products, Electricity, and Hydrogen into the EU from Third Countries. This service involves the verification of “Carbon Footprint Reports” that importing companies are required to submit to the relevant country Authority (e.g. Ministry of Economic and Finance, for Greece) in compliance with EU Regulation 956/2023 for the “Carbon Border Adjustment Mechanism” (CBAM).

Detailed Description
As part of the European “Green Deal”, which aims to gradually reduce greenhouse gas emissions and achieve climate neutrality by 2050, the EU has introduced the “Carbon Border Adjustment Mechanism” (CBAM), established under Regulation (EU) 2023/956. This regulation complements the existing EU-ETS (Emission Trading System) legal framework.
CBAM’s objective is to prevent the risk of carbon leakage by addressing the greenhouse gas emissions embedded in high-emission products when they are imported into the customs territory of the European Union. The mechanism ensures that the “carbon price” paid by the producer of these products in a non-EU country is equivalent to the price required for production within the EU.

The goal of TÜV AUSTRIA HELLAS’s “CBAM Verification” service is to timely and effectively identify any discrepancies in the declared data that obligated companies must upload at the platform of the relevant local Authority, ensuring compliance with the requirements of Regulation 956/2023 of the European Parliament.

What is the Certification procedure?

Who is the service for?
The “CBAM Verification” service is targeted at all companies subject to Regulation 956/2023 (CBAM), including “licensed declarants,” which import Iron and Steel, Cement, Aluminum, Fertilizers, Electricity, and Hydrogen from non-EU countries into the EU.

These products are further detailed in Annex I of the Regulation.

What are the benefits of verification?

• Reliable CBAM Report Submission: The “CBAM Verification” provides stakeholders with reliability and transparency regarding Carbon Emission data.
• Protection against Financial Penalties: The verification helps protect businesses from financial penalties due to incomplete or incorrect information in CBAM Reports.
• Readiness before the Obligation: The “CBAM Verification” allows businesses to align in advance with the mandatory requirements (effective from January 1, 2026) and gain experience in responding effectively.