Corporates Embrace US Subsidies as IMF Cautions Against Climate Protectionism
Energy companies are loving the US’s Inflation Reduction Act that seeks to shore up green technologies and supply chains through various financial incentives and the EU is taking its own measures to respond. However, the head of the IMF has cautioned that these moves may come at a cost to developing countries who have limited capacities to compete.
EU’s Carbon Border Adjustment Mechanism Could Reduce African GDP by 0.91%
Early analyses indicate that the CBAM will negatively affect developing countries more than developed ones, and that the impact on African exports may be considerable in some sectors
Coalition of Trade Ministers on Climate is Launched, While EU Pursues Climate Protectionism
As trade and climate become increasingly prominent on the global agenda, the newly established Coalition of Trade Ministers could play a foundational role in breaking down siloes between the international trade and climate communities, as well as bridging developed and developing country interests.