COP29: India opposes EU plan for border tax on carbon-intensive goods, seeks bold action from rich nations | India News – Times of India
BAKU: With negotiations at COP29 entering the second week, India on Monday opposed any kind of unilateral trade barrier and pitched for ‘four important aspects of global climate action’, saying the ambitious action oriented approach hinges on bold actions from those countries (developed nations whose high historical emissions led to climate change) who are obligated to take the lead in economy-wide emission reductions.In a clear reference to the EU’s Carbon Border Adjustment Mechanism (CBAM), New Delhi pointed out how some countries are shifting to ‘unilateral measures’ resulting in shifting of financial burden of mitigation actions to developing nations. The CBAM is a tool to put a price through imposing border tax on carbon intensive goods, like iron & steel, aluminium and cement, th...