3 MISCONCEPTIONS ABOUT THE CARBON BORDER ADJUSTMENT MECHANISM (CBAM)

3 MISCONCEPTIONS ABOUT THE CARBON BORDER ADJUSTMENT MECHANISM (CBAM)

 

 

 

CBAM, or Carbon Border Adjustment Mechanism, is a policy under the European Green Deal.

Essentially, CBAM imposes a carbon tax on imported goods into the EU based on the amount of greenhouse gases emitted during production in the exporting country. Therefore, it is crucial for Vietnamese businesses, especially those participating in the global supply chain, to understand CBAM accurately and thoroughly!

 

So, do you have any misconceptions about the CBAM mechanism?

Is CBAM a carbon tax?

- In reality, CBAM is a border adjustment mechanism designed to encourage countries to reduce emissions and promote green production.

 

Will CBAM apply to all Vietnamese exports to the EU?

- CBAM will only apply to specific goods imported from six main sectors: iron and steel, cement, hydrogen, fertilizers, aluminium and electricity.

 

Does CBAM significantly impact the Vietnamese economy?

- Although Vietnam exports many goods to the EU, the majority are telecommunications equipment, electronics, footwear, textiles, and furniture. Goods from the sectors subjected to CBAM are minimal, accounting for only about 8% of total export turnover, primarily cement, iron, steel and aluminum.

 

To effectively respond to the CBAM mechanism and protect export interests, Vietnamese businesses need to proactively grasp information, understand the regulations, and develop appropriate adaptation plans.

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