Vietnamese businesses aim for a low-carbon economy
The Carbon Border Adjustment Mechanism (CBAM) will begin to be tested by the EU from October 1. The pace of implementing “green” technical barriers is much faster than for FTAs, presenting a significant challenge for industries and businesses that have not been able to transform and adapt in time. The Vietnam Business Council for Sustainable Development (VBCSD) said there is a need for comprehensive awareness about the opportunities and challenges of a low-carbon economy for production and business. The legal corridor also needs to be synchronous and consistent, in accordance with international requirements and the domestic situation.