Making trade work for climate

The world cannot dodge the question of global trade and consumption anymore

Should India oppose the European Union’s (EU’s) plan for a carbon border tax — duty on imported goods like aluminium, steel, cement, and electricity from countries with less stringent greenhouse gas standards? The answer is both “yes” and “no”. Let me explain the complexity, as global trade is critically linked to GHG (greenhouse gas) emissions. The EU’s move is purported to pressure other countries to impose similar taxation and thereby reduce emissions. But the question is if this plan, which reeks of protectionism in an increasingly inequitable world, will take us towards a more cooperative world required to combat climate