Busan Chamber of Commerce, Business Briefing on Adapting to Changes in Trade Environment... Presentation of Response Measures to EU Supply Chain Due Diligence Guidelines

The Busan Chamber of Commerce and Industry (Chairman Yang Jae-saeng) FTA Trade Promotion Center held a 'Corporate Briefing Session on Responding to Changes in the Trade Environment' on the 30th at the second-floor conference room of Busan Chamber of Commerce, in collaboration with the Busan Regional Customs Office, to prepare for global carbon regulations.

This briefing session was organized to explore effective response measures for local companies following the full-scale implementation of global ESG regulations such as the U.S. Clean Competition Act (CCA) and the EU Carbon Border Adjustment Mechanism (CBAM), and in light of the EU's Corporate Sustainability Due Diligence Directive (CSDDD) which came into effect on July 25.

The EU Corporate Sustainability Due Diligence Directive (CSDDD) requires large companies trading with the EU to conduct due diligence not only on their own operations but also on their suppliers' environmental and human rights practices. Key due diligence items include the calculation and verification of greenhouse gas emissions, prohibition of workplace discrimination, and establishment of management systems for hazardous chemicals and waste.

About 50 export company representatives from Busan and Gyeongnam attended the session, where the latest trends and directions on carbon regulation response strategies were presented, including ▲EU supply chain due diligence and key issues ▲Overview of EU CBAM ▲Government export support projects.

A company representative who attended the briefing said, "Although I was aware of ESG supply chain due diligence and EU CBAM, it was difficult to approach them. Through this briefing, I understood the concept of carbon regulations and was able to deeply consider related responses."

A representative from the Busan Chamber of Commerce and Industry FTA Trade Promotion Center stated, "We hope this briefing will help local companies understand the trends of global ESG regulations thoroughly and prepare accordingly, serving as an opportunity to enhance corporate competitiveness for smooth exports in the future."

Busan Chamber of Commerce and Industry is holding a briefing session for companies responding to changes in the trade environment.

This content was produced with the assistance of AI translation services.