Bloomberg
In Bloomberg, BCG’s Tim Figures explains that the EU’s Carbon Border Adjustment Mechanism (CBAM) will have strategic and financial implications for businesses around the world—even those who are not impacted right away. CBAM, which requires importers from six carbon-intensive industries to start reporting on their emissions, marks the first step in the EU’s accelerated push to become the first climate-neutral continent. Even during the transitional phase before any taxes are put in place, CBAM will force producers in exporting countries to put a bigger focus on their carbon footprint, says Figures.