The trend of environmental measures becoming more strict around the world.
Carbon price adjustment measures before crossing the European Union (EU).
The EU is preparing to apply carbon price measures before crossing the border Carbon Border Adjustment Mechanism or CBAM from 1 October 2023 onwards for products imported in targeted industries with high greenhouse gas emissions.
including cement, fertiliser, iron and steel, aluminium, hydrogen and related downstream industries. In the first stage, operators must report carbon dioxide emissions in the production process. It is expected that around 1,300 entrepreneurs will participate, with an export value of 18,100 million baht.
US Fair Competition Act
The United States is considering establishing a carbon pricing mechanism and measures to adjust the cross-border carbon price (CBAM) of imported products in industries that emit concentrated greenhouse gases, including petroleum production and refining, petrochemicals, fertilizers, hydrogen , adipic acid, and cement, iron and steel, aluminum, glass, pulp and paper, and ethanol.
European Union Deforestation Products Law
The bill requires businesses importing goods into the EU to investigate and report their part in causing deforestation. (Products without deforestation) of 7 product groups, including beef and products. wood and printed paper products Oil palm and its derivatives, soya beans, coffee, cocoa, rubber and its products. Including other processed goods such as leather goods, chocolates, furniture etc. Entrepreneurs must show verifiable information that the imported goods have not been involved in deforestation since 2021. Failure to comply will result in fines.
This bill is pending. If it comes into force, entrepreneurs will have 18 months to prepare for legal action.
Driving Disclosure
Considerations are being made to increase the rigor of reporting and public disclosure of sustainability performance. Detect and prevent exploits from misidentifying ESG operations. or green bleaching (Grewashing), such as the operation in the EU. United Kingdom, China, Japan, United States, etc.
stock market of Thailand And the Securities and Exchange Commission (SEC) requires listed companies to disclose sustainability information as well. And there will be more accounting requirements related to the climate and the environment in the future.
Preventing Greenwashing and the Anti-ESG Bias
ESG Action (Anti-ESG Campaign) is a political tool. Republican states, especially in Republican-led states, have opposed recent ESG actions by Democrats that have made it harder for the fossil fuel industry to do business. Some proposed associations may emphasize political goals rather than actual action.
