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1h ago

EU Defends Carbon Border Levy as COP30 Draft Elevates Trade Dispute

Trade has moved to the center of the Belém talks with Brazil's draft inviting options on how to address unilateral measures.

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Newly launched BYD Dolphin is displayed during the launch of the Chinese-made BYD brand in Jakarta, on January 18, 2024
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La COP30 à Belem est censée se terminer vendredi 21 novembre à 18 heures, mais aucune COP n'a terminé à l'heure depuis 2003

Overview

  • EU climate chief Wopke Hoekstra declared the carbon border mechanism non-negotiable in COP discussions, calling carbon pricing essential.
  • The mechanism is set to start in January on steel, aluminium, cement, fertilisers, electricity and hydrogen to align import carbon costs with those faced by EU producers.
  • China, India and several developing countries criticize the policy as protectionist and seek fewer barriers to green technologies, with Chinese EVs facing tariffs above 45% in the EU and above 100% in the United States and Canada.
  • The Brazilian COP30 presidency on Tuesday issued an early compromise text that, unusually, includes a paragraph on trade offering multiple options for negotiators.
  • Ministers have days to resolve rifts over trade, ambition and finance, as Russia’s WTO complaint highlights limited legal recourse and a China–EU bilateral was slated to address the border measure.