Pwc's Cfodirect Podcast

The European Commission has adopted a set of proposals, known as the European Green deal, with the aim of reducing net greenhouse gas emissions in the European Union (EU) by at least 55% by 2030, and achieving zero net emissions by 2050. In addition to the Corporate Sustainability Reporting Directive (CSRD), another pillar of this policy is the creation of the Carbon Border Adjustment Mechanism (CBAM), a new border tax aimed at equalizing the price of carbon paid for EU products operating under the EU Emissions Trading System (ETS) with that of similar imported goods.CBAM is likely to impact the cost of carbon in global supply chains, and also has reporting obligations beginning as early as October of 2023, and the regulation has raised many questions. Which companies will it impact? What products are in scope? Will it impact companies that don’t do business in the EU?This week, Heather Horn was joined by Barry Murphy and Niels Muller, PwC partners who are following CBAM, to share their insights on what it me