CBAM Certificates: what changes in 2026 and what importers need to know.
The Carbon Border Adjustment Mechanism (CBAM) enters its definitive regime on January 1, 2026, marking a key milestone in the European Union’s climate and trade policy. From that date onward, CBAM ceases to be a mere reporting exercise and becomes a system with real financial impact through the acquisition and surrender of CBAM certificates.
One of the most relevant developments for 2026 is the confirmation of the pricing method for CBAM certificates. The European Commission has established that, throughout 2026, the price will be calculated and published on a quarterly basis, using the average auction price of EU ETS emission allowances for each quarter as a reference. The first applicable price for the first quarter of 2026 is €75.36 per tonne of CO₂ and was officially published on April 7, 2026.
Although CBAM certificates reflect the emissions associated with imports made in 2026, authorized CBAM declarants will only be required to purchase said certificates from February 2027 onward. The early publication of prices during 2026 is intended to enhance transparency and allow companies to adequately anticipate and budget for the economic impact of CBAM.
In order to prevent speculative behavior, the CBAM system incorporates strict safeguards. Certificates can only be purchased from the competent national authorities through the CBAM registry and cannot be traded on secondary markets. Furthermore, certificates are subject to expiration if not used within the established surrender deadlines, preventing their accumulation for speculative purposes.
Additionally, the European Commission has eased the certificate holding requirement. Under the measures included in the simplification package known as Omnibus, importers will only need to hold, at the end of each quarter, certificates equivalent to 50% of the embedded emissions of imported goods, compared to the originally planned 80%. This modification significantly reduces the cash flow pressure during the first years of CBAM application.
CBAM certificates can only be resold to the competent national authority and under very restrictive conditions. Their sale to other economic operators is not permitted, thereby reinforcing the non-speculative nature of the mechanism.
In parallel, the CBAM market infrastructure continues to advance. The European Commission has confirmed the launch of a Common Central Platform that will manage the purchase and surrender of CBAM certificates, which must be fully operational before the start of the purchase obligation in February 2027.
For companies importing goods covered by CBAM, 2026 should be considered a key preparation period. Priorities include obtaining authorized CBAM declarant status, validating emissions data provided by suppliers, assessing exposure to ETS price volatility, and internal coordination between customs, finance, and sustainability teams.
CBAM represents a structural change in the way carbon costs are integrated into international trade. Staying informed and anticipating requirements will be essential to minimize financial and operational risks when certificate acquisition obligations come fully into force.
One of the most relevant developments for 2026 is the confirmation of the pricing method for CBAM certificates. The European Commission has established that, throughout 2026, the price will be calculated and published on a quarterly basis, using the average auction price of EU ETS emission allowances for each quarter as a reference. The first applicable price for the first quarter of 2026 is €75.36 per tonne of CO₂ and was officially published on April 7, 2026.
Although CBAM certificates reflect the emissions associated with imports made in 2026, authorized CBAM declarants will only be required to purchase said certificates from February 2027 onward. The early publication of prices during 2026 is intended to enhance transparency and allow companies to adequately anticipate and budget for the economic impact of CBAM.
In order to prevent speculative behavior, the CBAM system incorporates strict safeguards. Certificates can only be purchased from the competent national authorities through the CBAM registry and cannot be traded on secondary markets. Furthermore, certificates are subject to expiration if not used within the established surrender deadlines, preventing their accumulation for speculative purposes.
Additionally, the European Commission has eased the certificate holding requirement. Under the measures included in the simplification package known as Omnibus, importers will only need to hold, at the end of each quarter, certificates equivalent to 50% of the embedded emissions of imported goods, compared to the originally planned 80%. This modification significantly reduces the cash flow pressure during the first years of CBAM application.
CBAM certificates can only be resold to the competent national authority and under very restrictive conditions. Their sale to other economic operators is not permitted, thereby reinforcing the non-speculative nature of the mechanism.
In parallel, the CBAM market infrastructure continues to advance. The European Commission has confirmed the launch of a Common Central Platform that will manage the purchase and surrender of CBAM certificates, which must be fully operational before the start of the purchase obligation in February 2027.
For companies importing goods covered by CBAM, 2026 should be considered a key preparation period. Priorities include obtaining authorized CBAM declarant status, validating emissions data provided by suppliers, assessing exposure to ETS price volatility, and internal coordination between customs, finance, and sustainability teams.
CBAM represents a structural change in the way carbon costs are integrated into international trade. Staying informed and anticipating requirements will be essential to minimize financial and operational risks when certificate acquisition obligations come fully into force.
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