EU: Trade Tensions at UN Climate Conference as Developing Nations Challenge EU’s Carbon Border Tax

Developing nations, notably China and India, clashed with richer countries over the inclusion of ‘unilateral trade measures’, such as the EU’s carbon border tax, in the UN climate talks agenda, delaying the conference start. Central to discussions is the need for a new climate finance goal.

Tensions surfaced at the UN climate conference as developing countries, led by China and India, contested the inclusion of the EU’s carbon border tax in the agenda. The contentious tax, aimed at reducing carbon emissions by levying imports, has stirred disagreement over its economic impact on developing nations.

The climate finance goal remains a pivotal issue at the conference. Host country Azerbaijan urged quick resolutions, while UN climate chief Simon Stiell emphasized the shared interest in a financial solution. However, proceedings stalled as delegates debated the agenda content.

Amid these discussions, a proposal from China highlighted broader concerns about industrial policies in developed countries. Finance Minister Nirmala Sitharaman criticized the tax as ‘unilateral and arbitrary’, sharing worries about its impact on India’s trade economy.

9 August 2024

UK: UK to Introduce Law to Regulate ESG Ratings Providers

The UK government will introduce legislation aimed at regulating ESG ratings providers in 2025, according to a speech Wednesday by Chancellor of the Exchequer Rachel Reeves, and confirmed today in a

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26 April 2025

UK: Spring Statement 2025: tax anti-avoidance rules with criminal sanction target staffing supply chain

The UK chancellor, Rachel Reeves, in her spring statement in March outlined the government’s plans to introduce further measures designed to close the “tax gap” – the difference

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31 January 2024

CARIBBEAN: EU engages with 5 Caribbean countries in Dominica to discuss their CBI Programmes

EU Commission representatives, including the Head of Visa Policy and the EU’s liaison in Barbados, recently visited Dominica to meet with the five OECS islands offering citizenship by investment programmes.

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25 March 2025

CRYPTO: IMF now officially tracks Bitcoin in cross-border finance — just weeks after warning El Salvador to scale back

IMF wakes up to cryptoOn Mar. 20, the International Monetary Fund (IMF) published the seventh edition of its Balance of Payments Manual (BPM7), marking the first time cryptocurrencies like Bitcoin have

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