India, Nov. 18 -- The European Union (EU) mounted a firm defence of its Carbon Border Adjustment Mechanism (CBAM) at COP30 on November 17, with Climate Commissioner Wopke Hoekstra insisting the policy "is not a unilateral trade measure" but a critical climate instrument designed to prevent emissions leakage and protect the integrity of Europe's carbon market.

Speaking on behalf of the EU Group, Hoekstra, at a press conference, said repeated attempts to portray CBAM as protectionist "do not do justice to the nature of the very thing," adding: "The best CBAM is actually one that doesn't make any money. Its purpose is climate, not trade."

Announced in 2023 by the EU, CBAM will be applied from 2026. Experts argue that the mechanism imposes ...