CBAM: First Certificate Prices and Carbon Certificate Timeline for Q1 2026

What You Need to Know

On April 7, 2026, the European Commission published the first quarterly price for CBAM certificates: €75.36 for Q1 2026. This price applies to all certificates related to imports of CBAM products during this period. Subsequent price publications will occur on July 6, 2026, October 5, 2026, and January 4, 2027. Starting in 2027, the price will be published on a weekly basis (source: Crowell & Moring Trade, April 7, 2026).

Key Points

• €75.36 per CBAM certificate for Q1 2026, official price published on April 7, 2026
• The number of certificates to be surrendered depends on the embedded emissions, adjusted by any free ETS allowances and any carbon taxes already paid in the country of origin (règlement (UE) 2023/956, JOUE L130 du 16 mai 2023 — “Regulation (EU) 2023/956, OJ L130 of May 16, 2023”)
• CBAM declarants have no obligation to hold certificates prior to February 2027—certificates can be purchased at any time during the year on the central platform starting from this date

Background and Stakes

The CBAM (Carbon Border Adjustment Mechanism) aims to align the carbon cost of imported products with that borne by European producers. Regulation (EU) 2023/956, OJ L130 of May 16, 2023, sets the framework for this system. It requires an annual surrender of CBAM certificates, each representing one tonne of CO₂ equivalent. This measure is part of a context of tightening disclosure requirements on the carbon value chain, as reflected by ongoing revisions to the Greenhouse Gas Protocol and debates on the integrity of carbon markets (see Utility Dive, April 6, 2026, and CleanTechnica, April 8, 2026).

Impact for the Profession

Professionals must take into account an additional timeline and obligations:

• Certificates may only be acquired by authorized CBAM declarants beginning February 1, 2027
• At the end of each quarter from 2027 onwards, declarants must hold at least 50% of the certificates required for emissions imported since the beginning of the year
• The first CBAM declaration and certificate surrender are required by September 30, 2027 (for 2026 imports)
• Option to resell surplus certificates at the initial purchase price until October 31 each year
• Failure to comply results in a penalty of €100 per tonne of unaccounted CO₂, indexed to the Union consumer price index—this fine does not exempt from the certificate surrender obligation

Next Steps

• July 6, 2026: publication of Q2 2026 CBAM certificate price
• February 1, 2027: opening of certificate sales on the central platform
• March 31, June 30, September 30, December 31, 2027: quarterly compliance checks for certificate holding
• September 30, 2027: first declaration and surrender of certificates
• October 31, 2027: deadline for reacquisition of surplus certificates
• November 1, 2027: cancellation of unused certificates for 2026

La Commission fixe à 75,36 euros le premier prix officiel du certificat CBAM, la déclaration initiale étant attendue au 30 septembre 2027. (The Commission sets the official first price of the CBAM certificate at €75.36, with the initial declaration expected by September 30, 2027.)

Source: Crowell & Moring Trade, April 7, 2026; règlement (UE) 2023/956, JOUE L130 du 16 mai 2023; Utility Dive, April 6, 2026; CleanTechnica, April 8, 2026