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Global outcry over EU's carbon tax and deforestation regulations
The Business Guardian
|July 09, 2023
Several countries, including India, Russia, and Brazil, expressed opposition to the European Union’s (EU) proposed carbon tax and deforestation regulations at a recent World Trade Organisation (WTO) meeting in Geneva.
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They fear that these measures could negatively impact their industrial sectors, according to a WTO official.
These objections were voiced during the two-day WTO’s Council for Trade in Goods meeting that ended on July 7th.
Developing nations criticised the EU’s deforestation regulation, noting that their agriculture sector - a significant source of employment and economic wellbeing - could be unfairly penalised. They pointed out that the EU’s policy decisions could detrimentally affect these socioeconomic groups.
The EU’s regulations are due to take effect on December 29, 2024, with an additional six months of leniency for smaller businesses.
Cette histoire est tirée de l'édition July 09, 2023 de The Business Guardian.
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