25 Aug 2023

Bogdan Gecić on the EU CBAM

Bogdan Gecić, Founding Partner at Gecić Law, was featured in eKapija for his insights on the immanent and profound transformation in both environmental and international trade regimes, propelled by the European Union’s groundbreaking Carbon Border Adjustment Mechanism (CBAM) regulation. As the CBAM comes into effect on October 1, 2023, Bogdan’s insights are detailed in an article titled “The Revolutionary New EU Carbon Import Tariff: What Do You Need to Know?”

The article explains the motivation and reasoning behind this unique regulation. With the CBAM, the EU pioneers the world’s first carbon border tax which introduces the world’s first carbon border tax on the imports of certain product categories in the EU and proceeds to offer a deep dive into the potential ramifications for economies and businesses around the world. With a sense of urgency, the article also outlines the most important aspects of how businesses should brace themselves for the forthcoming changes.

“While CBAM is a significant step in the EU`s climate policy, its effects transcend environmental considerations, as it is likely to have considerable implications for international trade and operational dynamics in various sectors. The European Union is leveraging the ‘Brussels Effect’,” banking on CBAM becoming a golden standard in this domain, akin to how GDPR influenced global data protection standards. This ensures that companies outside the EU align with its laws, creating a domino effect globally.”

To read the full article, please click here.