How will the reliability of the reported information be ensured?
The Commission, in collaboration with Member States authorities, will continuously monitor reported emissions and corresponding trade, to identify practices of circumvention and non-compliance with the CBAM Regulation and its secondary legislation. In addition, verifications will be carried out during the definitive period, and the report derived from them shall include information on the quantification of emissions and how these emissions are attributed to the different types of goods.
During the definitive period, declared embedded emissions should be verified by a verifier, accredited in accordance with specific accreditation rules (to be defined by the Commission during the transitional period), who will prepare a verification report. In line with this, CBAM declarations will be accompanied by copies of emissions verification reports.
Penalties will be imposed when a CBAM declarant introduces goods into the customs territory of the Union without complying with the obligations established in the Regulation.
Source: EC’s Questions and Answers on CBAM