Combating the new wave of climate-related trade protectionism
2 years ago

Combating the new wave of climate-related trade protectionism

Hindustan Times  

Several countries across the world are recording a sustained reduction in greenhouse gas emissions. It is obvious that there will be little impact on global emissions if advanced economies with cleaner technologies and stricter environmental policies transfer their polluting industries to developing countries, leading to a mere transfer of the source of emissions rather than any actual decline. Instead of compensating the developing countries that are bearing greater health and social costs due to offshoring of the polluting industries, the developed economies are imposing a penalty on imports from the developing countries. These climate-related measures would be challenging for developing countries, that are often net exporters in terms of CO2 emissions embodied in trade. While international financial resources would be pivotal for transition in developing countries, the domestic financial sector in India may also be galvanised to facilitate the move towards a low-carbon development trajectory.

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History of this topic

After nearly 10 years of debate, COP29’s carbon trading deal is seriously flawed
4 weeks ago

After nearly 10 years of debate, COP29’s carbon trading deal is seriously flawed

New Indian Express  

Negotiators at the COP29 climate conference in Baku have struck a landmark agreement on rules governing the global trade of carbon credits, bringing to a close almost a decade of debate over the controversial scheme. The deal paves the way for a system in which countries or companies buy credits for removing or avoiding greenhouse gas emissions elsewhere in the …

COP29: India voices dissent on ‘discriminatory trade barriers linked to carbon emissions
1 month, 1 week ago

COP29: India voices dissent on ‘discriminatory trade barriers linked to carbon emissions

The Hindu  

India has voiced its disapproval of “protectionist” measures that link trade barriers and carbon emissions, at the ongoing climate talks in Baku, Azerbaijan. “A regime of unilateral trade measures on climate change,” India stated on Friday, “imposes the cost of the transition to low-carbon economies on developing and low-income countries. Circular evasions Neither the BASIC proposal nor India’s statement explicitly …

Cause and Effect | COP29 opens with divisions over Europe’s carbon border tax and climate financing
1 month, 1 week ago

Cause and Effect | COP29 opens with divisions over Europe’s carbon border tax and climate financing

Hindustan Times  

The UN Conference of Parties Summit began in Baku, Azerbaijan on Monday, the second year in a row that an oil-producing nation has held the presidency. From the EU’s perspective, the mechanism was aimed at “levelling the playing field” for its firms that operate under the EU’s Emissions Trading System and pay a domestic carbon price to cushion them from …

COP29 agrees to set up carbon market; India to ensure parties weave clearer rules for global carbon markets
Trending News
1 month, 1 week ago

COP29 agrees to set up carbon market; India to ensure parties weave clearer rules for global carbon markets

Live Mint  

New Delhi: A global carbon market will be set up after a landmark decision on the first day of the global climate summit in Baku, at the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change. It offers two pathways for countries and companies to trade carbon offsets, supporting the achievement of emission …

Climate goals need trade collaboration
8 months, 4 weeks ago

Climate goals need trade collaboration

China Daily  

Wind turbines in Zhoushan, Zhejiang province, slowly turn with the help of sea breezes and generate green electricity for places across the country on July 2, 2023. For example, green trade can offer many solutions to climate change by expediting the transition to renewable energy, promoting technology transfer, and encouraging investment in green sectors and low-carbon technologies among others. Leveraging …

Climate goals need trade collaboration
8 months, 4 weeks ago

Climate goals need trade collaboration

China Daily  

Wind turbines in Zhoushan, Zhejiang province, slowly turn with the help of sea breezes and generate green electricity for places across the country on July 2, 2023. For example, green trade can offer many solutions to climate change by expediting the transition to renewable energy, promoting technology transfer, and encouraging investment in green sectors and low-carbon technologies among others. Leveraging …

India expresses serious concerns in WTO meet over unilateral protectionist measures
9 months, 3 weeks ago

India expresses serious concerns in WTO meet over unilateral protectionist measures

The Hindu  

India on February 26 expressed "serious" concerns in a WTO meeting in Abu Dhabi over increase in the use of trade protectionist measures by certain countries in the name of environment protection. Mr. Barhthwal "expressed serious concerns regarding the increasing use of trade protectionist unilateral measures, which are sought to be justified in the guise of environmental protection". India against …

Developed countries to overshoot carbon emissions goal: study
1 year, 1 month ago

Developed countries to overshoot carbon emissions goal: study

The Hindu  

In the run-up to a key global climate summit, an analysis shows that developed countries — responsible for three-fourths of existing carbon emissions in the atmosphere — will end up emitting 38% more carbon in 2030 than they have committed to, going by current trajectories, In fact, 83% of this overshoot will be caused by the United States, Russia, and …

HNLU Raipur: First Global Online Conference On "Climate Action, SDGs, And Trade: A Path Towards A Greener Future"
1 year, 2 months ago

HNLU Raipur: First Global Online Conference On "Climate Action, SDGs, And Trade: A Path Towards A Greener Future"

Live Law  

HNLU Raipur is Oganising First Global Online Conference On "Climate Action, SDGs, And Trade: A Path Towards A Greener Future" ABOUT THE CONFERENCE: On a global scale, the climate change we are experiencing is a serious and pressing issue of our time. As António Guterres, Secretary-General of the UN, noted at the United Nations Climate Change Conference COP27, “We are …

Loss and Damage decisions, pitfalls and promises
2 years ago

Loss and Damage decisions, pitfalls and promises

The Hindu  

A major takeaway from COP27 in Egypt, as far as loss and damage is concerned, is the decision relating to new funding arrangements focusing on L and D — those particularly vulnerable to the adverse effects of climate change. Past, present and the future In the entire climate change negotiations, the developed countries have consistently opposed being made liable for …

COP27 | India, China, Brazil, South Africa oppose ‘carbon border tax’
2 years, 1 month ago

COP27 | India, China, Brazil, South Africa oppose ‘carbon border tax’

The Hindu  

With the 27th edition of the Conference of Parties in Sharm El Sheikh nearing its final stages and efforts being ramped up to arrive at a conclusive agreement, a consortium of countries that includes India has jointly stated that carbon border taxes, that could result in market distortion and aggravate the trust deficit amongst parties, must be avoided. BASIC, a …

BASIC nations underline climate finance goal
3 years, 1 month ago

BASIC nations underline climate finance goal

Hindustan Times  

Brazil, South Africa, India, and China -- nations that form the ‘Basic’ grouping -- are seeking a fresh long-term climate finance goal at the COP26 summit in Glasgow, according to a statement presented by India’s environment minister, Bhupender Yadav, on behalf of the bloc. Environment minister Bhupender Yadav Yadav said during the opening of COP26 that the grouping endorsed for …

The carbon markets conundrum at COP26
3 years, 2 months ago

The carbon markets conundrum at COP26

The Hindu  

October 21, 2021 12:02 am | Updated 12:41 am IST If climate negotiations are compared to a game of diplomatic chess, Article 6 of the Paris Agreement would be the king to be checkmated and captured for concluding the Paris Agreement Work Programme at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change. A …

How trading CO2 could save the climate
3 years, 2 months ago

How trading CO2 could save the climate

BBC  

How trading CO2 could save the climate Getty Images A global carbon market would have potential to significantly lower the world's carbon emissions, proponents say For its proponents, a global carbon market could significantly reduce the world's carbon emissions. Governments say carbon credits, and a global carbon market where these credits can be bought and sold, can help them achieve …

Unpacking pre-2020 climate commitments
3 years, 4 months ago

Unpacking pre-2020 climate commitments

Hindustan Times  

In the last few years, the discussions on climate ambition have primarily focused on either nationally determined contribution targets committed within the framework of the Paris Agreement, or respective countries’ net-zero commitments. Under the Kyoto Protocol, an emission reduction target of 5%, based on 1990 levels, was set to be achieved by developed countries in the first commitment period. In …

EU unveils tough climate rules, eyes tax on foreign firms
3 years, 5 months ago

EU unveils tough climate rules, eyes tax on foreign firms

Associated Press  

BRUSSELS — The European Union unveiled sweeping new legislation Wednesday to help meet its pledge to cut emissions of the gases that cause global warming by 55% over this decade, including a controversial plan to tax foreign companies for the pollution they cause. European Commission Executive Vice-President Frans Timmermans said that by failing to act now, “we would fail our …

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