Can the Carbon Border Adjustment Mechanism be a Wake-up Call for Your Company?

As we have reported, the EU is pushing forward with its net zero emissions by 2050 goal; and will introduce its Carbon Border Adjustment Mechanism (CBAM) a few weeks from now, on 1 October 2023.

In effect, the CBAM will put a carbon tariff on products sold into the EU.

The UK, US, Japan and Canada are next in line, with other countries to follow.

This article talks about the pending impact on India, where the CBAM covers approximately 24% of all exports.  In effect, if not slowed, the CBAM is forecast to have a crippling effect on Indian exports.

India knew this was coming but is now scrambling to find ways to soften its impact.

Now think about the future of your business and how it plans to compete in the coming years.  How will you differentiate from your competitive peers?  What will be the key drivers of consumer decisions and government compliance?

We know the CBAM is just one of the first of many sustainability compliance programs that will be implemented around the world.  Is it a wake-up call for your business to make the needed changes to compete in the coming years?

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