Bio-, circular and green (BCG) economic development can help the country avoid non-tariff barriers as well as become a key tool in cutting carbon emissions, following the government's pledge to promote BCG projects during the Apec summit, says the Federation of Thai Industries (FTI).
Higher levels of carbon dioxide not only contribute to global warming, but growing concerns over unusual weather patterns around the world are also causing many countries to consider imposing new non-tariff barriers in an effort to help reduce the level of carbon emissions, said Kriengkrai Thiennukul, chairman of the Federation of Thai Industries.
The EU plans to implement the Carbon Border Adjustment Mechanism or CBAM, which imposes charges on manufacturers that fail to adopt technology that benefits the climate.
