The Impact of the European Union’s Carbon Reduction Mechanism on the Manufacturing Industry and Potential Response Strategies in Asia Pacific

12月 18, 2023 Lingfeng Ye, Yishan Wu, James Zhang

  • The European Union’s carbon border adjustment mechanism (CBAM) represents a significant milestone as it stands as the world’s first implementation of trade policies specifically designed to address carbon reduction goals.
  • Such policy prospects and the subsequent changes in global economic and trade rules can have a significant impact on developing countries, particularly in East Asia and Southeast Asia, where manufacturing industries play a crucial role.
  • The banking industry that provides crucial financing support for the manufacturing needs to accelerate its reform efforts; Industry-leading enterprises take the lead in actively building green internal supply chains within their organizations; Relevant countries in the Asia-Pacific region may request the establishment of stricter regulatory mechanisms to ensure that the EU’s use of carbon tariff revenues is fair and transparent; The possibility of strengthening climate financing systems and industrial cooperation between the Asia-Pacific region and the United States.
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