How Steelforce streamlined EU CBAM reporting with CarbonChain

Steelforce Group is a major player in the international trade of steel products, currently exporting to 100 countries in different continents: Africa, Central- and South-America, Asia, Middle East and Europe. Steelforce Group exports over 2 million tons of steel products per year and reaches a turnover of nearly 2 billion Euro.

With the introduction of the EU Carbon Border Adjustment Mechanism (CBAM) in October 2023, Steelforce had to swiftly adapt to a new complex regulation. Importing thousands of tonnes of steel products through the EU each year, Steelforce was already tracking the carbon footprint of many of its product lines using the CarbonChain platform. Yet, like the rest of the industry, the company had never before been subject to customs-level carbon reporting requirements. 

The challenge was two-fold:

1. Submitting its first ever CBAM declarations by the 31^st of January 2024, which meant understanding and following the European Commission’s new rules in a tight timeframe;
2. Ensuring international suppliers were (a) aware of CBAM requirements and (b) monitoring their emissions in an EU-approved way, ready to provide Steelforce with primary data when it becomes mandatory for CBAM reporting (by the 31^st of October 2024)

With the risks of fines for non-compliance and with critical supplier relationships at stake, Steelforce sought a trusted partner to streamline the process and ensure accurate and timely reporting. So they turned to CarbonChain for our digital solution and steel carbon accounting expertise.