气候与竞争力：碳边境调节机制在行动

W H I T EP A P E R Images:Midjourney,Getty Images Contents Foreword Executive summary Introduction 1 Overview and industry responses to BCAs7 1.1 Design and implementation of BCAs7 1.2 Global evolution of BCAs and carbon-pricing frameworks8 1.3 Environmental and economic impacts of BCAs9 1.5 How leaders of carbon-intensive industries are responding to BCAs11 1.6 Wider industry responses to border carbon adjustments18 2 Strategy playbook21 2.1 Plan administration of carbon-pricing policies2.2 Achieve domestic and international compliance2.3 Change operations to decarbonize – and engage stakeholders 3 From insight to action Contributors Endnotes Disclaimer This document is published by theWorld Economic Forum as a contributionto a project, insight area or interaction.The findings, interpretations andconclusions expressed herein are a resultof a collaborative process facilitated and ©2025 World Economic Forum. All rightsreserved. No part of this publication maybe reproduced or transmitted in any formor by any means, including photocopying Foreword Pedro GómezHead, Industry Agenda, Water CheungChair, Climate Finance Asia This white paper provides a timely framework toguide decision-makers through this transformation.Drawing on case studies from emerging economiesand lessons from pioneering industries, it highlightspractical steps that companies can take today toprepare for a carbon-constrained future. The strategy The global economy is entering a new chapterin the transition to net zero. Even within acontext of geopolitical shifts, carbon-pricingmechanisms continue to expand. Moreover, the Unlike previous emissions reduction measuresfocused primarily on domestic regulation, bordercarbon adjustments reach across frontiers, makingthe capacity to manage carbon emissions animportant factor of global market access. Theiremergence represents a significant intersectionof climate and trade policy. At the same time, they This project was conducted by the World EconomicForum in collaboration with Climate Finance Asia,a specialized knowledge partner that supportedpolicy research and conceptual development of the Navigating the intersection of climate and trade willbe one of the defining leadership challenges of thisdecade. Border carbon adjustments can quicklybecome a practical reality in the global economy.In light of that, how governments, businesses andinvestors respond will play a critical role in shapingthe trajectory of both competitiveness and climate For business leaders, this moment presentsboth risk and opportunity. Indeed, border carbonadjustments can create new costs and complexitiesin international supply chains. However, they alsohold the potential to accelerate decarbonizationand reward first movers and those with proactive Executive summary The emerging landscape of carbon borderadjustments is redefining competitiveness,creating risks and opportunities in trade, The introduction of border carbon adjustments(BCAs) as a new feature of the carbon-pricinglandscape highlights a fundamental tensionbetween climate and trade. The European Union’sCarbon Border Adjustment Mechanism (EU CBAM),for example, is designed primarily to prevent carbon these mechanisms influence which markets aremore advantageous, how supply chains areorganized and where capital flows. While BCAsintroduce new costs and compliance obligations, The World Bank’s State andTrends of CarbonPricing 2025report1highlights that there are 80carbon taxes and emissions trading systems (ETSs)in operation worldwide, with five being introducedover the past 12 months, covering 28% of globalemissions, with economies representing nearlytwo-thirds of global economic output having Companies now face the dual challenge of meetingclimate goals while maintaining market accessand profitability. Policy uncertainty is high, andjurisdictional fracturing seems likely, as each BCA(if/when implemented) may have different scopes,reporting periods and cost calculation methods,creating additional trade barriers and administrative Meanwhile, climate and trade pressures areintensifying. The EU CBAM will become the firstfully implemented BCA as of January2026, signalling a new era in which carboncompetitiveness is enforced at the border. Forexporters from emerging economies such asChina, Brazil, India and South Africa, this createsboth pressure and opportunity: comply and remain This white paper offers a strategy playbook forexecutives, built on a PACE framework (Plan,Achieve, Change, Engage). It highlights the urgent –Planfor the integration of carbon pricing into –Achievecompliance with domestic carbon rules –Changeoperations to reduce greenhouse gas(GHG) emissions and enhance competitiveness This white paper presents case studies acrossnumerous emissions-intensive sectors from theBASIC group of countries (Brazil, South Africa, Indiaand China) to illustrate how leading companiesin emerging markets are already adapting.From Chinese steel