On Monday, our Founding Partner, Bogdan Gecić, participated in a webinar titled “All About CBAM, the new EU Carbon Border Tax”. This event was organized by the Israel Export Institute in collaboration with the leading Israeli law firm, Shibolet. The attendees, mainly Israeli exporters from diverse industries, had the opportunity to hear from top experts in sustainability, ESG, EU law, and international trade. They discussed how the EU’s new regulations might affect their businesses and gave recommendations on how to best prepare.
Daphna Sternfeld, Deputy Director of the Israel Export Institute, offered an introduction to the topics and moderated the webinar. Hila Lipman, Director of Climatech at the Israel Export Institute, shared insights about the upcoming edition of the UN Climate Change Conference COP 28 due to be held in Dubai in November. Galit Ofer, Partner & Head of Environment & Sustainability Practice at Shibolet, provided a comprehensive overview of sustainability, climate, and environmental regulation in the EU and details on what to watch for that may affect businesses. Dr. Liad Ortar, Head of Shibolet ESG, explored the practices and methods for measuring GHG emissions and carbon footprints. A major takeaway from his discussion was that the overarching objective is to reduce emissions and that is where the focus should be, rather than on the technicalities of sustainability reporting.
Bogdan’s presentation primarily focused on the recently adopted EU Carbon Border Adjustment Mechanism (CBAM) Regulation. He illuminated its far-reaching implications on international trade generally, and particularly on Israeli manufacturers. He detailed the industry sectors that the regulation will impact and examined the registration and reporting requirements under the draft CBAM Implementing Regulation, which will be valid in the transitional period of the regulation’s roll-out. This regulation is currently open for feedback and is expected to be adopted later this summer. Bogdan proposed a practical approach for companies to understand, prepare for, and take advantage of the opportunities offered by CBAM, while mitigating potential threats. He emphasized the necessity of analytical and preparatory work, regardless of a firm falls under its current scope, as the regulation’s reach will gradually extend to an increasingly larger number of industries and businesses globally. Bogdan also discussed several potential approaches, including the benefits of developing an effective national carbon pricing scheme.
Bogdan’s talk sparked significant interest from the audience. A vibrant question and answer session followed, confirming the relevance and urgency of this topic and the need to enhance awareness and comprehensive understanding of this complex regulation, which is still taking shape.
The Israel Export Institute is a not-for-profit organization established in 1958. It’s a joint venture between the government of the State of Israel and the private sector, with the mission to encourage and promote Israeli exports and international trade globally. With over 65 years of experience, the Institute collaborates with the Ministry of Economy and Industry to assist Israeli companies in their international outreach and to create business opportunities worldwide.
Shibolet is one of Israel’s largest full-service corporate law firms, building on a sterling legacy as a pioneer in tailor-made legal solutions across evolving market sectors. Consistently ranked among the top five Israeli law firms, Shibolet is widely regarded as a powerhouse for business-oriented legal service, expertise, and insight. Shibolet brings together more than 270 full-time law practitioners, with different specialties and complementary skills.
Gecić Law and Shibolet are fellow members of Terralex, the elite global association with the mission of helping members serve their clients’ legal needs and business interests through a worldwide network of quality law firms that meets high professional standards.
To view the full webinar, please follow this link (from 17:30)
