Today, a roundtable on the Carbon Border Adjustment Mechanism (CBAM) was held at the State Tax Service under the Azerbaijani Ministry of Economy, Report informs.
According to the agency, international experts, climate finance specialists, representatives of government agencies, private sector representatives, and employees of audit companies attended the event.
Opening the event, Deputy Chief of the State Tax Service Samira Musayeva stated that the meeting aims to conduct an in-depth study of the requirements of the CBAM mechanism - a new climate policy tool proposed by the European Union and currently being implemented in phases, to identify potential challenges in this area, and to consider possible solutions for ensuring effective preparation. She emphasized that the discussions were extremely important in terms of finding a balance between fighting global climate change and economic development.
The roundtable, moderated by Ely Sandler, an expert from Harvard University, featured presentations and speeches by Ernst & Young partner Kasia Klacinska Lewis, PwC partner Nadia Picard, and other experts.
Participants shared theoretical and practical information about CBAM's global and national impact on business operations, possible scenarios regarding the European Union's legislative requirements in this area, and discussed manufacturers' and exporters' readiness for this process.
During the event, experts answered questions and provided professional commentary.