SGV Sustainability Services Leader and Philippine Sustainability Reporting Committee (PSRC) Chair Benjamin “Benjie” N. Villacorte was a speaker on “Beyond Borders: The Impact of CBAM on Philippine Industries” at the Tax Management Association of the Philippines (TMAP) International Tax Summit 2024. The event, themed “Shaping a Sustainable Tax Leadership,” was held on 29 August at the Makati Shangri-La.
Benjie discusses CBAM
Benjie discussed the Carbon Border Adjustment Mechanism (CBAM). He explained the mechanism’s objectives, scope, covered product categories, and implementation timeline. He explored the potential impacts of the mechanism on importers outside the EU, particularly those from Asia and the Philippines.
Benjie receives certificate of appreciation from TMAP President Jacquie Villar and Vice President for Internal Affairs Caren Laforteza
Benjie provided insights on how Philippine importers can adapt to this emerging requirement and emphasized that companies should view it as an opportunity to demonstrate a competitive advantage over their regional peers. He explained that by meeting CBAM requirements, businesses can show environmental responsibility, maintain current EU business, capture additional market share, and establish themselves as industry leaders.
