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Global carbon pricing is needed to prevent “difficult and problematic” disputes over environmental measures from disrupting trade, the head of the World Trade Organization has said.
Ngozi Okonjo-Iweala told the Financial Times in an interview that the WTO was taking the lead in working for an international carbon pricing system with the IMF, OECD and UN.
That effort comes in response to the EU’s carbon border adjustment mechanism, which came into force this year and requires exporters to the trade bloc to pay a levy linked to the EU carbon price for the emissions of certain carbon-intensive products including steel, cement and fertiliser.
The measure, which comes into force in 2026, is meant to level the playing field between EU manufacturers, who have to…
