Climate and Sustainability Ambitions of our Trading Partners

Synopsis 

Climate and sustainability ambitions of our trading partners will affect many Malaysian businesses where trade is almost 70% of our GDP, most notably in the rubber glove industry and palm oil sector.

Many countries are pushing ahead with climate ambitions and as a consequence, proposing to penalise imports. The European Union, for example which already has a binding target to cut greenhouse gases by at least 40% by 2030 from 1990 levels, wants to become climate-neutral by mid-century. The EU wants to ensure that imported goods face the same costs of emissions as European companies. A carbon border tax would penalize dirty imports from countries that lag behind in fighting climate change. We believe that other countries will follow suit. Malaysian companies need to be forewarned and start reducing their carbon footprint or may find themselves left out of world trade.

In this webinar, we take the opportunity of listening…