Navigating The EU’s Carbon Border Policy MIDA And Alliance Bank Host CBAM Workshop For Malaysian Businesses

KUALA LUMPUR, As the world grapples with the pressing issue of climate change, Malaysia is taking a significant step towards a sustainable future. The Malaysian Investment Development Authority (MIDA) and Alliance Bank Malaysia Berhad (Alliance Bank) have successfully hosted the inaugural Carbon Border Adjustment Mechanism (CBAM) workshop, a groundbreaking event that brings together industry leaders, and an environmental expert from Riverstone Environmental Sdn. Bhd. to explore the potential of CBAM in revolutionising sustainable industrial practices.

CBAM is a carbon border tax designed to address the growing concern of carbon leakage by putting a fair price on the carbon emitted during the production of carbon-intensive goods entering European Union (EU) countries. This innovative mechanism encourages cleaner industrial production in non-EU countries, paving the way for a more sustainable future.

Source: BERNAMA News Agency

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