Equipoise is supporting West Special Fasteners with the nuts and bolts of CBAM compliance 🔩
Companies exporting to the European Union must comply with CBAM to retain access to the market
We’re seeing a rise in environmental regulations requiring organisations to measure, report, and reduce their greenhouse gas emissions. This is becoming not only a compliance obligation but also a commercial one.
One of these regulations is the Carbon Border Adjustment Mechanism (CBAM), launched by the European Union as part of its journey to carbon neutrality by 2050 and its ambition for member states to reduce their emissions by 55% by 2030.
CBAM will require EU companies importing cement, iron, steel, aluminium, fertiliser, electricity or hydrogen from outside the EU to collect emissions data from their supply chain and disclose it every quarter to ensure compliance.
This mechanism requires companies exporting these goods into the EU to collaborate with their EU customers to share product-level emissions assessments and drive emission reductions in order for them to retain access to the EU market.
West Special Fasteners measures product emissions for CBAM disclosure
As a UK steel and metal fasteners manufacturer with a significant customer base in the European Union, West Special Fasteners has partnered with Equipoise to align with CBAM and retain its access to the EU market.
The Derbyshire-based fastener manufacturer has been exporting its products to over 35 countries since 2000. With a new wave of ESG regulations in the EU, it is proactively working to support its EU customers with CBAM compliance.
By working with Equipoise, West Special Fasteners collected supply chain data from over 40 UK and international suppliers and calculated CBAM-compliant embedded emissions assessments for their products that fall within the scope of CBAM reporting.
“I was responsible for all the paperwork and changes needed to be able to export to the EU after Brexit, and CBAM is much, much more complex.”
Tim Wilson, Sales Director at West Special Fasteners
Through this partnership, West Special Fasteners has been equipped with an emissions measurement toolkit that automatically provides CBAM compliance reports for its 4,000 bespoke products by leveraging data pulled from its Enterprise Resource Planning software.
"Equipoise's understanding of our needs was absolutely spot on, and I was surprised at just how much value we got out of even the first meeting.”
Simon Grass-Smith, Business Development at West Special Fasteners
Exporters to the EU are decarbonising to gain a competitive advantage
With their robust and transparent reporting system, West Special Fasteners are now not only able to comply with CBAM in time for the 31st July 2024 deadline and retain access to the EU market but are also equipped to gain a competitive advantage over other exporters.
When CBAM comes into full effect on January 1st 2026, EU companies will be required to purchase CBAM certificates for their non-EU imported emissions. By providing lower-carbon products, non-EU exporters can reduce the import costs for their EU customers.
With Equipoise’s actionable insights on how to decarbonise production, West Special Fasteners can implement emission reduction initiatives, such as improving the energy efficiency of its manufacturing processes.
By reducing their emissions, West Special Fasteners can strengthen their partnerships with EU customers. Ultimately, sustainability leaders will see that complying with CBAM is not just a regulatory requirement but an opportunity to retain and attract customers.
Get in touch with Equipoise to explore how your organisation can comply with regulations such as the CBAM and gain a competitive advantage.
