CEF urges Australia to lead Asian CBAM with China, Japan, Singapore, and Korea. (Photo: iStock)
To enhance industrial competitiveness, carbon tariffs have recently become a focal point for both Taiwan and Australia. Taiwan's Ministry of Environment has revealed plans to pilot a local version of the Carbon Border Adjustment Mechanism (CBAM) starting next year.
Meanwhile, Australian independent think tank Climate Energy Finance (CEF) has proposed the idea of an “Asian CBAM,” calling on the Australian government to take the lead in establishing a regional carbon pricing framework together with China, Japan, Singapore, and South Korea.
CEF proposes Asian CBAM including Australia, Japan, Korea, China, and Singapore
On June 5, CEF released a report arguing that carbon pricing is the most cost-effective tool for decarbonizing the global economy. Implementing CBAM targeting key industrial commodities—such as steel, cement, and aluminum—would restore carbon markets, support global emissions reductions, mitigate climate risks, and redirect capital away from fossil fuels and toward clean energy and green industrial products.
