The EU’s Carbon Border Adjustment Mechanism (CBAM) has officially begun its transition phase, commencing on October 1, 2023. This phased implementation marks a significant step in the European Union’s strategy to address carbon leakage and promote more environmentally sound production practices globally. Initially, the CBAM will focus on a select group of industries deemed particularly at risk of carbon leakage. […]
During the transitional phase of the EU’s CBAM mechanism, importers of cement, steel, aluminum, fertilizers, and hydrogen products must report direct and indirect greenhouse gas emissions, including emissions from electricity use during manufacture. This critical regulation underscores the increasing global emphasis on sustainable production and supply chain transparency. For businesses, particularly those in Vietnam exporting to the European Union, understanding […]
The European Union’s CBAM (Carbon Border Adjustment Mechanism) is set to reshape international trade, with its transitional phase beginning on October 1, 2023. This critical environmental trade policy introduces carbon taxes on imported goods entering the EU, based on their production-related greenhouse gas emissions. For Vietnamese businesses, particularly those heavily involved in export sectors such as steel, aluminum, and cement, […]
