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Friday, May 3, 2024

Department urges firms to home in on ESG

Mr Ekniti said the department’s principle is to collect less tax or not collect any taxes for environment-friendly products and services, while taxing products and services that are not in line with ESG principles.

The Excise Department is advising business operators to accelerate adjustments by focusing on manufacturing products in line with the environmental, social and governance (ESG) approach to prevent an embargo on imports, says director general Ekniti Nitithanprapas.

He said from Oct 1, the European Union (EU) will pilot its Carbon Border Adjustment Mechanism (CBAM) measures for 2-3 years, which are expected to…

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