Steel, cement and fertilisers are all major exports of developing countries, and their production is highly polluting. Should rich countries impose a carbon border tax to penalise emissions by these industries in developing countries, hopefully encouraging them to adopt greener technologies? Or will it merely impose a cost on developing countries and leave them stranded without the money or technology to green these industries?
Questions such as these are being debated at the ongoing 26th Conference of Parties, where world leaders are negotiating on rules on carbon markets under Article 6 of the Paris Agreement. These rules would put a