EU Wants To Make ‘Carbon Tariff’ Mandatory For Imports. It Will Hit Developing Countries Hard

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Source : PTI

When the nations of the world meet for COP29 — or the 29th Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) — in November, the topics under discussion will include the European Union’s (EU’s) ‘carbon tariffs’. Since 2023, the EU has been running a ‘pilot’ for a ‘Carbon Border Adjustment Mechanism (CBAM)’, which it describes as a “tool to put a fair price on the carbon emitted