Emitwise

The Challenge with CBAM

With the EU (and other countries soon, too) implementing stricter emission controls, businesses must navigate the complex task of complying with CBAM regulations, which impact a wide array of imported goods.

This includes collecting precise data from suppliers, understanding tax implications, and adhering to stringent reporting requirements—tasks that are often intricate and time-consuming.

Your Guide to CBAM

How Emitwise supports CBAM compliance

Your view

  • Enhanced Supplier Engagement: Facilitates effective communication and collaboration with suppliers.
  • Improved Data Accuracy: Ensures suppliers provide accurate and timely emissions data with data quality checks.
  • Mitigate risk and tax exposure: Remove blindspots in your company’s financial exposure to CBAM.

Your supplier’s view

  • Educational Support: Provides comprehensive CBAM training and resources.
  • User-Friendly Interface: Simplifies the supplier data submission process.
  • Robust Accuracy & Completeness Checks: Performs robust data checks to support suppliers and verify their submissions.

Frequently Asked Questions

What sets CBAM Engage apart from other compliance tools?

CBAM Engage uniquely focuses on supplier engagement and education, facilitating easier data collection and ensuring higher quality submissions. Unlike traditional compliance tools that merely organise and manage supplier data, CBAM Engage takes a proactive approach by offering comprehensive training and support to suppliers.

This ensures suppliers are well-informed about CBAM requirements and understand the importance of accurate data submission. The user-friendly interface makes it easier for suppliers to input data correctly, reducing the likelihood of errors and omissions. Additionally, CBAM Engage provides robust validation checks to ensure data accuracy, which further enhances compliance rates and reduces the administrative burden on businesses.

How does CBAM Engage simplify the compliance process for suppliers?

We provide detailed educational resources and direct training via webinars, helping suppliers understand what data is needed and how to submit it properly. This proactive approach reduces errors and enhances compliance rates. Suppliers are given access to a library of resources that include video tutorials, step-by-step guides, and FAQs that address common issues and questions. The webinars are conducted by compliance experts who provide in-depth explanations and practical tips on data submission.

Additionally, CBAM Engage offers support where suppliers can reach out for help if needed. This combination of resources and support ensures suppliers are well-prepared and confident in their ability to comply with CBAM requirements.

What if a supplier fails to submit complete or accurate data?

CBAM Engage includes robust checks for data completeness and accuracy. If issues arise, our platform prompts suppliers for corrections, ensuring reliable data before reporting deadlines. The system automatically flags any discrepancies or missing information and notifies the supplier to make the necessary corrections. Suppliers receive detailed feedback on what needs to be corrected and are given guidance on how to do so.

This iterative process continues until the data meets the required standards. In cases where suppliers need additional assistance, CBAM Engage provides access to a dedicated support team that can offer personalised help. This ensures all data submitted through the platform is accurate and complete, reducing the risk of non-compliance.

Can CBAM Engage handle the complexity of managing multiple sites with independent imports across Europe?

Yes, our platform is designed for scalability and can manage compliance across multiple sites with unique supplier bases, ensuring each site meets CBAM requirements independently. CBAM Engage offers a centralised dashboard allowing businesses to monitor compliance status across all their sites. Each site can upload its supplier data, which the platform then organises for easy tracking and management.

The system also supports the creation of custom workflows and reporting templates for each site, ensuring all CBAM requirements are met. Additionally, CBAM Engage provides advanced analytics and reporting tools that help businesses identify trends and potential issues across their sites, enabling proactive management of compliance efforts.

Does CBAM Engage provide reporting capabilities?

Absolutely. The platform generates ready-to-submit XML files that comply with EU reporting standards, simplifying the submission process for businesses. CBAM Engage’s reporting module is designed to be user-friendly and efficient. Businesses can generate detailed reports that include all required data points, ensuring compliance with CBAM regulations.

The platform also offers customizable reporting templates that can be tailored to meet specific needs. Once the data is validated and the report is generated, it can be easily exported in the required XML format. This eliminates the need for manual data entry and reduces the risk of errors. Additionally, CBAM Engage provides tools for tracking report submission status and managing deadlines, ensuring that businesses never miss a reporting deadline.

COMPLY WITH CBAM

Are you ready for the October 31, 2024, deadline?

Meet with an Emitwise expert to discuss how you can accelerate your CBAM compliance to meet the upcoming deadlines.

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