He called for a more positive approach by advanced economies to ensure that developing countries don't face unfavourable conditions in supporting economic activity in the developed world.
"If developing countries are insuring the lives and property of people and businesses in developed nations, what are they getting in return? What is the premium that developed nations are willing to pay for it? Surely, it cannot be CBAM," the CEA said.
CBAM aims to establish a fair price for carbon emitted during the production of energy-intensive products, such as iron, steel, cement, fertilisers, and aluminum, entering the European Union (EU).
This story is from the February 16, 2024 edition of Business Standard.
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This story is from the February 16, 2024 edition of Business Standard.
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