THE CBAM MECHANISM - OPPORTUNITY OR CHALLENGE?

THE CBAM MECHANISM - OPPORTUNITY OR CHALLENGE?

 

The EU is on a path towards becoming a carbon-neutral continent by 2050. Consequently, the Carbon Border Adjustment Mechanism (CBAM) has become an irreversible "game changer"!

  • Specifically, from October 1, 2023, CBAM will be implemented as a pilot scheme for the transitional phase, with full implementation expected by 2026.
  • According to Eurostat, Vietnamese enterprises are the largest trading partners of the EU within ASEAN, ranking 11th among the largest goods suppliers to the EU. Therefore, to gain a competitive edge, businesses must participate in the "Green Race" and comply with the stringent requirements of the import market.
 

 

So, is the CBAM mechanism an opportunity or a challenge?

 

OpportunitiesChallenges
  • Promote businesses to adopt technology, reduce emissions, and enhance productivity.
  • Improve competitiveness and integrate more deeply into the EU market.
  • Create opportunities for businesses to join the EU's green supply chain.
  • Align with the Government's Net Zero goals.
  • Serve as a technical barrier for Vietnam's industries exporting to the EU market. 
  • Exporting businesses may face increased production costs. 
  • Many countries and businesses struggle with upgrading technology. 
 
 
← Bài trước Bài sau →
Icon-Zalo Zalo Icon-Messager Messenger Icon-Youtube Youtube Icon-Instagram Instagram Icon-Linkedin Linkedin Lên đầu trang