The European Union (EU)’s Carbon Border Adjustment Mechanism (CBAM) will impact 75% of Malaysia’s exports to the bloc, according to the Securities Commission Malaysia (SC).
The EU's CBAM will impact 75% of Malaysia's exports to the bloc. (Photo: thestar.com.my)
Kuala Lumpur (VNA) – The European Union (EU)’s Carbon BorderAdjustment Mechanism (CBAM) will impact 75% of Malaysia’s exports to the bloc, accordingto the Securities Commission Malaysia (SC).
In its Capital Market Stability Review 2023, the SC said that although the EUaccounted for only about 8% of Malaysia’s total exports during 2021-2023, itsclimate and environmental, social and governance (ESG)-related policies likeCBAM will affect Malaysian firms through multiple channels.
There is an increasing proliferation of disclosure standards and ESGrequirements being imposed at an international and domestic level, all of whichrequire compliance and attention from corporates, it said.
Against this backdrop, the SC is building athematic study assessing the risk exposure of Malaysian public-listed companies(PLCs) to sustainability factors to emphasise the importance of looking atbusiness strategy and sustainability to incorporate transition plans, giventheir potential impact on PLCs.
To deliver on the goal, the SC chaired an advisory committee on sustainability which works to identify enablers that will facilitate the use of the standardsof the International Sustainability Standards Board (ISSB) in Malaysia and buildassurance frameworks to support domestic enterprises.
꧑ Firms that have engaged in traditionally carbon-intensive sectors or those withthe highest emissions may face the highest costs and risks of strandedassets during any adjustment by investors of clients alike to reduce the carbonintensity of their business activities./.
As the European Union (EU)’s Carbon Border Adjustment Mechanism (CBAM) will enter into application in its transitional phase from October 1, 2023, Vietnamese businesses are forced to join in the “green race” in the context that Vietnam is the union's largest trading partner in the Association of Southeast Asian Nations (ASEAN).
Responding to the European Union (EU)’s Carbon Border Adjustment Mechanism (CBAM) will help Vietnamese firms avoid being left behind in the process of developing the sustainable value chain and the green economy, according to experts.
Domestic firms should transform to adapt to the green and sustainable development requirements of the EU to further enter the supply chain in this market, heard a recent trade forum.
The World Trade Organisation (WTO) estimated that steel export value may drop by 4% under the impact of the EU Carbon Border Adjustment Mechanism (CBAM). A drop in demand will lead to a reduction of about 0.8% in output.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The EU's CBAM will impact 75% of Malaysia's exports to the bloc. (Photo: thestar.com.my) 
