The country's first data transaction in response to the EU's "carbon tariff" was reached in Tianjin

The reporter learned from the Sino-Singapore Tianjin Eco-City on the 9th that recently, with the approval of the Northern Big Data Trading Center, the country's first data product in response to the EU's "carbon tariff" was completed offline trading on the Tianjin Emissions Exchange.

It is reported that from October 1, 2023, the world's first "carbon tariff" EU carbon border adjustment mechanism (CBAM) will start trial operation. According to the CBAM, the EU will impose additional carbon border adjustment fees on specific products imported from abroad, covering six major industries, including electricity, steel, aluminum, cement, chemicals, and hydrogen. That is, when such industry-related products are exported to EU countries, they need to provide carbon emission data and pay taxes on the amount of greenhouse gases released when the goods are manufactured.

In this transaction, Tianjin Jimao Nail Co., Ltd. should provide a complete carbon emission report of the product when exporting screws, bolts and other products to the EU, so it is necessary to obtain the emission data of the upstream iron and steel company, Tianjin Huayuan Wire Products Co., Ltd., in the production of raw materials. The two parties will use the carbon emission data of exported steel wire rod products as the subject matter of the transaction. The Tianjin Emissions Exchange issues a report to ensure the validity of the trading data. The registration and transaction process of data products is managed by the Northern Big Data Exchange Center in compliance and stored on the chain, which effectively helps downstream enterprises to carry out EU export business.

The relevant person in charge said that the successful transaction of data products has opened a new model of "industrial chain linkage" and "integration and innovation of carbon number elements" to deal with the EU's "carbon tariff", which is conducive to strengthening the coordination and cooperation between upstream and downstream enterprises in the industrial chain, fully mining the value of data, promoting the compliant and efficient circulation and use of data, and at the same time reducing the circulation cost of carbon emission data elements, alleviating the problem of "difficult data acquisition" of downstream enterprises, and helping export business development.