BAKU: With COP29 negotiations entering second week, India Monday opposed any unilateral trade barrier and pitched for “four important aspects of global climate action”, saying the ambitious, action-oriented approach hinges on bold actions from countries (developed nations whose high historical emissions led to climate change) obligated to lead economy-wide emission reductions. In a clear reference to 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. CBAM is a tool to put a price through imposing border tax on carbon intensive goods, like iron & steel, aluminium and cement, that are entering EU.
Once it is implemented from 2026, it will put a tariff burden on such products of developing countries, including India and China, and impact their trade. “There is a need to recognise the negative impacts on developing nations due to such unilateral trade measures in the context of climate change,” said India’s environment secretary and deputy leader of the country’s delegation, Leena Nandan, while intervening during the high-level ministerial roundtable on pre-2030 ambition. The four aspects of global climate action highlighted by India include the need for scaling up innovative actions through “barrier and restrictions free” technology transfer; climate finance for enabling and implementing climate a.