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.
ew European Union rules that let tax authorities share data on individuals’ crypto holdings were formally adopted by the bloc’s finance ministers on Tuesday. The document will now be published
In a significant development reported in October 2023, the United Arab Emirates (UAE) is on the cusp of being removed from the Financial Action Task Force’s (FATF) “grey list.” This list, known
National Treasury has several Bills open for public comment, which could benefit South Africans with offshore investments. National Treasury recently published draft Tax and Revenue Law amendment Bills,
Press release from Carey Olsen, Friday 6 December, 2024. Carey Olsen Guernsey has advised the trustee of the £1 billion Merchant Navy Ratings Pension Fund (“MNRPF”) on its longevity swap