Corporate social responsibility Supply chain

SOURCING WORKING GROUP

 CCI FRANCE CHINE held our Sourcing Working Group simultaneously in Guangzhou and Shenzhen, gathered perspectives from industry experts on the evolving European regulations that will significantly impact importers in 2024.

🌿 EU'S CARBON BORDER ADJUSTMENT MECHANISM (CBAM): Starting in October 2023 until October 2025, CBAM is being phased in, introducing a novel EU method on CBAM covered products embedded emissions calculation. It necessitates collaborative efforts from EU importers and their operators to adapt their supply chains, ensuring compliance and sustainability.

🌍 TRADE SANCTIONS: The EU consistently revises trade sanction measures, primarily restricting the import of raw materials from Russia or goods processed in third countries after June 2023. Customs in the EU may demand MTC or other proof of the country of origin, and failure to comply with these requirements will result in the rejection of imports. Moreover, due to the "long arm" nature of the US sanctions system, individuals and companies involved, directly or indirectly, with Russia in the energy sector or a broad spectrum of goods face the potential consequences of restricted access to the US, frozen bank accounts, penalties, and other related repercussions.

✨ PROHIBITION OF GLITTERS IN THE EUROPEAN UNION: Aimed at eradicating the spread of high-polluting microplastics, the EU is enforcing a glitter prohibition from Oct 2023 (loose microplastics) to Oct 2035 (all makeup products). Innovative solutions include inorganic metals (glass, metal), MICA, and biodegradable glitters. Crucially, the adoption of such materials may impact production costs.

Thank you again to our panelists for their insights! 
🎤 Mrs. Esther Chen, Chief Strategic Consultant from Eviden
🎤 Mrs. Alice Sun, Partner Lawyer from P.C. Woo & Zhonglun W.D. LLP,
🎤 Mr. Adrien MASQUELIN, Director at Shenzhen export & trending solutions LTD

💬 CCI FRANCE CHINE remains committed to fostering collaboration and knowledge-sharing within the business community.