- Nov 11, 2021 12:28 pm GMT
On paper, a carbon border tax is the perfect mechanism for coercing trade partners to reduce their emissions and, potentially, delver a global deal on carbon pricing – the Holy Grail of COP26. In reality, world leaders are unlikely to agree on rules for a global carbon market, meaning border taxes will be introduced unilaterally. These will punish exporting countries that do not decarbonise their energy-intensive products, even if development finance promised to help them transition fails to materialise.
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