CBAMBOO, the climate tech start-up, today launches the CBAMBOO Platform, available immediately to users worldwide across industries such as steelmaking, aluminium and automotive supplies.
The CBAMBOO Platform is the fastest and most reliable way for firms to comply with new obligations under CBAM – the Carbon Border Adjustment Mechanism, the EU’s flagship climate policy.
CBAMBOO was founded by Gabriel Rozenberg and Daniel Sharp in May 2023 with the mission to accelerate the decarbonisation of industry. The VC-backed start-up, based in London, is developing the essential carbon intelligence platform for a future world of product-level carbon prices.
Today, users of the CBAMBOO Platform can take control of their CBAM data collection with a purpose build, cloud-hosted compliance solution that is intuitive to learn and easy to use.
Key features include:
- The CBAMBOO Network, on which every supplier in the value chain can build a secure and private data file that updates dynamically as new information becomes available. Companies today face extreme challenges when they rely on email-based workflows to get CBAM data. The CBAMBOO Network slashes this friction and allows data to move freely to the end-customer.
- CBAMBOO Carbon Flow, a breakthrough approach to emissions data collection. Carbon Flow offers a simple, visual interface for goods producers to map out process flows in their facilities, and track carbon emissions from source to factory gate. In sharp contrast to rival offerings, there are no spreadsheets to complete. Every CBAMBOO customer can give their suppliers access to CBAMBOO Carbon Flow for free.
- World-class CBAM support. CBAMBOO offers support and advice both for its direct customers and for their suppliers, to ensure that data is collected that is accurate, timely and complete. Because of CBAMBOO’s 100% focus on CBAM, the company has an unrivalled ability to assist companies around the world to navigate the complex requirements of the new law.
- XML generation and report management. Quarterly CBAM reports are automatically generated and can be downloaded in XML format. These XML files can then be uploaded to the European Commission’s Transitional Registry in a single click, saving hours of work that would otherwise be spent in populating customers’ data online. Draft reports can also be generated in PDF format for
internal review.
Gabriel Rozenberg, co-founder and CEO of CBAMBOO, said:
“CBAMBOO is building the operating system for the world’s carbon border taxes. With the innovations we announce today, our customers in heavy industry will create their CBAM reports in minutes, not weeks.”
CBAM goods covered by the CBAMBOO Platform span iron, steel, aluminium, cement and fertilisers – imported by tens of thousands of EU-based companies every year.
As of today [1 July 2024], those EU-based firms are required by law to get data from high up their supply chain about the exact carbon emissions embedded in those products, creating a tough challenge for trade compliance and sustainability leads.
Fines of €10-50 per ton of unreported CO2e are applicable for those who fail to comply. Suppliers that cannot provide this information risk being shut out of the EU Single Market.
Daniel Sharp, co-founder and CTO of CBAMBOO, said:
“Our customers have been searching high and low for help with CBAM’s strict requirements.
“We spent the past year listening to exactly what they need. We built the CBAMBOO Platform from the ground up to fit the demands of the CBAM legislation.
“When companies gather information through CBAMBOO today, they can be confident that the data which they receive will meet their precise reporting requirements.”
Businesses interested in learning more about CBAMBOO can book a product demonstration via the website cbamboo.com.
