The Carbon Border Adjustment Mechanism (CBAM) is an environmental policy tool being introduced by the EU to help achieve its decarbonisation targets and prevent “carbon leakage,” where production shifts to countries with less stringent climate policies. Starting with a transitional period from 1 October 2023 to 31 December 2025, and moving to full implementation from 1 January 2026, CBAM will require importers of carbon-intensive products such as iron, steel, cement, aluminium, fertilisers, hydrogen, and electricity to purchase certificates corresponding to the embedded carbon emissions in their imports. This aims to equalise the price of carbon between domestic and imported products, ensuring fair competition and encouraging global emission reductions.
The CBAM process involves registering as an importer, quarterly emissions reporting, and purchasing CBAM certificates. The European Commission (EC) will oversee the mechanism, with Ireland’s Environmental Protection Agency (EPA) acting as the competent body. Detailed guidance and training resources are being prepared to assist stakeholders in complying with these new requirements. As the mechanism is phased in, businesses must prepare for the increased data collection and reporting demands to avoid potential fines and ensure smooth integration into the CBAM framework.
This regulation will significantly impact the steel industry in Ireland, making it essential to begin familiarising yourself with it promptly.
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Hello everyone,
I’d like to begin this letter by expressing my immense pride and privilege in being the inaugural President of Irish Steel. Our organisation is dedicated to aiding SMEs in the metalwork fabrication and manufacturing industry across Ireland, aiming to fortify and advance their businesses. We are committed to supporting our members in enhancing their business performance and competitive edge by fostering connections for the exchange of knowledge, ideas, and experiences.
The term “Knowledge sharing” may seem abstract, but in the context of Irish Steel, it translates to empowering industry professionals to achieve success! Our focus is on aiding industry members in becoming more professional, profitable, connected, and organised.
My initial encounter with the benefits Irish Steel offers was in 2016 when I joined and was added by Pat to the WhatsApp group he established to connect fabricators nationwide. Shortly after joining, while on a job in Cork, we faced a shortage of 16 special bolts. Despite efforts, no supplier could fulfil our need. I reached out through the WhatsApp group, and remarkably, within hours, a fellow member whom I'd never met before drove over a hundred miles to assist me. This experience truly showcased the incredible potential of connecting individuals who share similar day-to-day challenges.
Such instances are a daily occurrence at Irish Steel, where the team actively provides practical support to its members.
The organisation experienced challenges during the Covid lockdowns, which impacted many people and businesses. However, Irish Steel has now reinvigorated itself, moving past the dark days of Covid. The Association is investing heavily, emerging stronger, more focused, and better than ever. I am honoured to be part of this team, which organised the first-ever awards ceremony tailored for the metalworking industry in Ireland. It was extraordinary to witness so many like-minded individuals gathered, celebrating achievements, and fostering business relationships. I eagerly anticipate the 2024 Irish Steel Awards Dinner & Gala Night.
Earlier, I mentioned the power of connections. Being allied with this team, benefiting from their knowledge, experience, and network, is something that industry members should earnestly consider.
Irish Steel is managed by industry veterans who have established a vast network of members, both domestically and internationally. They have also convened a cadre of technical and business expert consultants aligned with Irish Steel to serve our members. This team, proficient in steel fabrication, manufacturing, and various aspects of running successful manufacturing and contracting businesses, is dedicated to helping members reduce waste, avoid errors, prevent financial losses, build resilience, stimulate growth, innovate, ensure safety, comply with legal requirements, boost profits, diversify, innovate, and scale – the list is extensive.
Kind regards,
Fergus Naughton
2024 President of Irish Steel
