Greater collaboration within Asia-Pacific the answer to forthcoming EU carbon tax?

THE power of renewable energy to connect the world can sometimes mean, at its most fundamental level, a little give and take.

Come October, the European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM) will be enacted in full force to tackle cross-border carbon leakage. Any country exporting into the EU will then need to show that they have paid a carbon price to cover the production of their goods. If they can’t produce proof, the importer gets taxed.

In Asia-Pacific, businesses across the region are weighing up what the EU ruling means for them. Most economies in this part of the world are ill-prepared for this regulation.