Exporters attended a session on the European Union’s (EU) new Carbon Border Adjustment Mechanism (CBAM), which charges for carbon emissions in the production of goods entering the EU, while also encouraging cleaner industrial production in non-EU countries.
CBAM experts emphasized discussions focused on how this regulation could impact the competitiveness of Philippine exports in the EU market, particularly for goods exports such as chemicals, plastics, steel, iron, aluminum, fertilizers, cement and similar materials.
The Philippine Export Development Plan (PEDP) 2023-2028 aims to support exporters in adapting to these new regulations.
The event was held by Sycip, Gorres, Velayo & Co. (SGV & Co.), a member firm of Ernst and Young Global (EY) in partnership with the Export Marketing Bureau of the Department of Trade and Industry at the SGV I, WSDC Training Room on 20 May 2024, in Makati City. AOB