UOB MALAYSIA LAUNCHES MASTERCLASS TO HELP BUSINESSES PREPARE FOR THE EUROPEAN UNION'S CARBON BORDER ADJUSTMENT MECHANISM POLICY

KUALA LUMPUR, Malaysia, May 7 (Bernama) -- UOB Malaysia today launched the Carbon Border Adjustment Mechanism (CBAM) Supply Chain Imperatives Masterclass to help businesses understand and prepare for the implementation of European Union’s (EU) CBAM requirements in 2026.

The CBAM is a carbon border tax that puts a fair price on the carbon emitted during the production of carbon-intensive goods entering the EU, and encourages cleaner industrial production in non-EU countries. The EU’s CBAM is currently in its transitional phase and will take full effect in 2026. This regulatory change will impact Malaysian businesses currently exporting to the EU as it will require them to use CBAM’s methodology to measure and report on the total carbon emissions embedded in the production of certain goods.