The 2023 EU-Taiwan Seminar on Carbon Border Adjustment Mechanism (CBAM) was organised on 27 April by the European Commission, the Association of Taiwan Net Zero Emissions, the European Economic and Trade Office (EETO), the Industrial Technology Research Institute (ITRI) and the Taiwan Institute for Sustainable Energy. The event gathered over 400 participants from the EU and Taiwan government, business and academia to discuss the challenges and opportunities brought by the CBAM, arguably the first step towards a global mechanism for climate neutrality by 2050. ‘If we want to be successful, the EU must continue cooperating with the rest of the world. We only have one planet and climate does not stop at the borders,’ said Dr Maria Elena Scoppio, Director of Indirect Taxation and Tax Administration, DG TAXUD of the European Commission. By requiring importers to report embedded carbon emissions in goods, and applying a carbon levy starting from 2026, the CBAM will effectively prevent carbon leakage for goods traded in the EU. However, other jurisdictions must adopt a similar scheme compatible with the CBAM and international trade laws. ‘In the EU, we are and we will remain champions of [the fight against] climate change,’ said Ms Aleksandra Kozlowska, Head of the Trade Section at the EETO.