Training on the Interpretation of EU Carbon Border Adjustment Mechanism (CBAM) organized by CCPIT Sichuan Council in Chengdu

2024-04-08 | Southwest China

On 8th April 2024, a training on the Interpretation of EU Carbon Border Adjustment Mechanism (CBAM) organised by China Council for the Promotion of International Trade (CCPIT) Sichuan Council in Chengdu. European Union Chamber of Commerce in China took part in as supporting organisition.

Mr. Massimo Bagnasco, Vice President, European Union Chamber of Commerce in China gave a speech in the training. VP Bagnasco shared that he was glad to contribute and cooperate with CCPIT to increase awareness and deep understanding about CBAM on behalf of European Chamber.

Mr. Wang Zhimin, CCPIT Sichuan Vice President, Mr. Liu Chao, Vice Director Beijing CCPIT Legal Centre and the other experts provided a detailed explanation of the policy.

EUCCC core message was “CBAM is primarily designed to ensure fairness within the European market and prevent carbon leakage without being a trade tariff or barrier against any specific country”.

“The imposition of tariffs on high carbon products by the European Union is actually a 'forced' boost for Sichuan. Sichuan enterprises should quickly familiarize themselves with the requirements of the EU's carbon border regulation mechanism, establish carbon accounting capabilities, and ensure the accuracy of the submitted data and information”.

Was said by VP Wang and he stressed that “By enhancing the carbon reduction capabilities of enterprises, they can create their 'carbon competitiveness' under the global trend of energy conservation and emission reduction, and seize the opportunity for green development and low-carbon competition”.