Long term Gains: How Aligning with CBAM Drives Economic and Environmental Benefits
Gaylor Montmasson-Clair, Senior Economist at Trade & Industrial Policy Strategies
Summary
Gaylor Montmasson-Clair, Senior Economist at Trade & Industrial Policy Strategies, explores the long-term advantages for businesses and countries in adhering to CBAM (Carbon Border Adjustment Mechanism) regulations.
He highlights that although the initial shift to carbonisation may pose short-term hurdles, it is essential for companies to remain competitive and access markets and financing in the long term.
Decarbonised companies will experience cost savings, improved efficiency, and increased competitiveness. From a national standpoint, this transition brings about numerous benefits, such as job creation, investment, enhanced health, and a more robust and sustainable economy.
However, managing this transition effectively and equitably is crucial, and the speaker encourages a supportive approach towards companies in South Africa and globally as they transition towards an adjustment and green economy.
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