Energy Community Secretariat published its CBAM Readiness Tracker. It provides comprehensive insights into significant developments in the energy sector’s contribution to achieving the Energy Community 2030 climate and energy targets and the Contracting Parties’ progress in decarbonisation.
Following the adoption of the Regulation (EU) 2023/956 on the Carbon Border Adjustment Mechanism (CBAM) in the European Union, this new edition puts particular focus on the progress made in meeting the conditions for the CBAM exemption.
The CBAM Regulation makes it possible to have electricity imports in the EU exempted, if the Contracting Party’s electricity market is coupled with the EU internal electricity market, and meets certain conditions related to climate and energy legislation. These conditions include implementing an emissions trading system (ETS) by 2030 at least with regard to electricity. The close linkage that CBAM establishes between electricity market integration and decarbonization calls for a more aligned approach to energy and climate policy planning, implementation, and monitoring.
Furthermore, the Tracker highlights progress in the development of electricity market and renewable energy sources; monitors the implementation of “energy efficiency first principle” across the sectors; and outlines the progress in meeting climate commitments taken by the Contracting Parties in light of the Paris Agreement