BAKU, Azerbaijan, November 17. On November 16,
a roundtable dialogue on the “Carbon Border Adjustment Mechanism
(CBAM)” was held on the State Tax Service underneath the Ministry of
Financial system, Development
stories.
The occasion introduced collectively worldwide consultants, local weather
finance specialists, authorities representatives, non-public sector
stakeholders, and auditors.
Opening the occasion, Deputy Head of the State Tax Service Samira
Musaeva defined that the aim of the assembly was to achieve a deeper
understanding of the CBAM necessities—a brand new local weather coverage device
launched by the European Union and at the moment being phased in. The
dialogue centered on figuring out potential challenges and
exploring options for efficient preparation. Musaeva highlighted
the significance of putting a steadiness between addressing international
local weather change and guaranteeing financial development.
The roundtable, moderated by Eli Sandler, a specialist from
Harvard College, included displays by Kasia Klatczynska
Lewis, accomplice at Ernst & Younger, Nadia Picard, accomplice at PwC, and
different consultants.
Contributors shared insights on the potential influence of CBAM on
companies at each international and nationwide ranges, in addition to the
European Union’s legislative framework for the mechanism. In addition they
mentioned the readiness of producers and exporters to adapt to
these adjustments. It was famous that whereas the mechanism may result in
constructive progress in combating local weather change, its success will
rely upon honest international approaches, sustainable improvement, and
environmental justice.
Consultants addressed questions and offered clarifications throughout
the occasion.