Malaysia must implement carbon pricing and look into a carbon tax ahead of the 2026 commencement of the European Union’s Carbon Border Adjustment Mechanism (CBAM), said deputy investment, trade and industry minister Liew Chin Tong. Under CBAM, the export of steel and five other items from Malaysia will be taxed by the EU unless Malaysia collects the tax, he said. Levies collected by Malaysia should be channelled into green investments such as lower-emission steel, added Liew.

Source: Free Malaysia Today