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Wednesday, June 12, 2024

Nino Tandilashvili introduces draft law on amendments to Georgian law

First Deputy Minister of Environmental Protection and Agriculture Nino Tandilashvili introduced the draft law on amendments to the Georgian law to the representatives of the business sector "Environmental Protection."

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Georgia: First Deputy Minister of Environmental Protection and Agriculture Nino Tandilashvili introduced the draft law on amendments to the Georgian law to the representatives of the business sector “Environmental Protection.”

According to Nino Tandilashvili, changes to this law were planned to facilitate Georgia’s integration into the European Union. Specifically, the changes will be implemented to reduce greenhouse gas emissions and fulfill the obligations arising from the Energy Union founding contract.

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“We, as a member of the Energy Union and a country with EU candidate status, have several international obligations. The current package of legislative changes relating to the implementation of greenhouse gas emissions monitoring, reporting, and verification systems (MRV), which is currently being discussed, directly addresses the European Union’s greenhouse gas emission trading system (ETS) and the Carbon Border Correction Mechanism (CBAM). To avoid delays in exporting products produced in Georgia to the EU market, these mechanisms should be implemented within reasonable time frames. By working together, we will cooperate effectively and achieve the desired result”, – said Nino Tandilashvili.

It should be noted that the EU is considering implementing the Carbon Border Correction Mechanism (CBAM) and the EU Greenhouse Gas Emission Trading System (ETS) as a strategic mechanism to combat climate change.

To implement these mechanisms, it is a prerequisite for countries to introduce greenhouse gas emission monitoring, reporting, and verification systems (MRV) to make factual emission data available to enterprises, which is required to determine the maximum level of carbon emissions permissible.

It should be noted that from January 1, 2026, purchasing CBAM certificates will be compulsory for Georgian companies that export individual products stipulated by EU legislation to EU countries. As noted at the meeting, the CBAM mechanism imposes taxes on carbon-intensive products such as cement, iron, steel, aluminum, fertilizers, electricity, and hydrogen imported to the EU.

The Accreditation Center, Business Association representatives, and stakeholders attended the meeting.

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