BRICS Opposes EU's CBAM, Calls Carbon Trade Measures Unilateral, Protectionist
New Delhi, Aug. 24 -- BRICS countries, including India, China, Russia, South Africa and Brazil, have opposed the European Union's Carbon Border Adjustment Mechanism (CBAM) and other similar trade measures, describing them as unilateral, punitive, discriminatory and protectionist.
In a joint ministerial statement adopted at the conclusion of the 12th BRICS Environment Ministers' Meeting, the member countries said such measures were not consistent with international law and could undermine efforts by developing countries to address climate change and strengthen their resilience.
CBAM, which entered its operational phase on January 1, imposes a carbon-related cost on imports of emissions-intensive products such as iron and steel, aluminium...
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