The draft Climate Change Act is not yet in force, but it sets out carbon reporting, emissions trading, a carbon tax, a cross-border carbon price mechanism and a climate fund. SCB EIC says the law will tie carbon to costs, customer requirements and financing. A practical first step is to find where your emissions come from (energy use, raw materials, transport). Then model your costs and margins at different carbon prices. Watch for the climate fund, which may support SMEs in the supply chain. The tax rates and scope are still undecided.