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China proposed further discussions on the Carbon Border Adjustment Mechanism - a carbon tariff on products imported to the European Union that started a trial run on Oct 1 - at a two-day meeting starting on Monday by the World Trade Organization in Geneva, Xinhua News Agency reported.
At the meeting, China, building upon proposals made in March and June this year, submitted a proposal with focuses on specific policy matters related to CBAM, suggesting several issues that need in-depth multilateral discussions, Xinhua reported.
The proposal highlights that, in the exploration of addressing climate change through trade policies, the integration of environmental policy tools such as carbon emissions, carbon intensity and carbon footprint with trade policies involving tariffs or border adjustments, pursued unilaterally, has sparked considerable controversy.
Multilateral discussions on this matter should ensure an open, non-discriminatory, and fair multilateral trade system that aligns with the protection of the environment and sustainable development, achieving a balance between environmental protection and economic development, reported Xinhua, citing Chinese delegates at the WTO meeting.
Regarding the CBAM, China suggests conducting specialized discussions on six key topics, namely the principles of measures, institutional design, trade impacts, contributions to the environment, inclusivity and data protection. These discussions will specifically address issues such as determining carbon emission default values, the applicable situations of CBAM and mutual recognition.
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