ETP’s Director, Philip Timothy Rose, recently participated in a high-level panel discussion at the Bloomberg Sustainable Business Summit titled “Regulating Asia’s Sustainable Future.” The session focused on the implications of the European Union’s Carbon Border Adjustment Mechanism (CBAM) on the ASEAN region.

As ASEAN is the EU’s third-largest trading partner, the introduction of the CBAM poses significant challenges for energy, construction, and agribusiness sectors. These industries, heavily reliant on emissions-intensive materials, face increased regulatory burdens and potential cost hikes.

The EU’s Carbon Border Adjustment Mechanism (CBAM) is a new carbon tax on imports of specific carbon-intensive products, including steel, cement, and electricity. Implemented to prevent “carbon leakage”, CBAM aims to ensure fair competition between domestic and imported goods.

ETP’s Director spoke about the CBAM, highlighting its potential impact on the region. He presented examples on the roll-out of CBAM by referring to case studies from ETP’s role in supporting Vietnam’s implementation of CBAM-related measures. He further touched upon the potential opportunities for similar initiatives in Indonesia and Thailand. Rose also contextualized the CBAM within the broader landscape of global carbon pricing mechanisms.

The session underscored the need for robust strategies to address the CBAM and its potential implications for businesses and governments in the region. ETP’s participation in the discussion highlighted the partnership’s commitment to providing insights and solutions for a sustainable future in Southeast Asia.

The event featured distinguished speakers including Katie Turner, Senior Programming Director – APAC, Bloomberg Live; Ibu Meliza M. Rusli, President Director, PermataBank; Frank Debets, Managing Partner, PwC Singapore; and Teresa Teo, Sustainability Team Lead APAC, ACT. The two sessions were moderated by Sheryl Lee, Asia ESG Reporter, Bloomberg and Catherine Bosley, Asia Markets Editor, Bloomberg.

Click on the link below to watch ETP Director, Philip Timothy ROSE‘s presentation at the hashtag#Bloomberg Sustainable Business Summit.

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