The international trade body backed the EU’s decision to impose rules against palm oil as a biofuel due to emission risks but said the bloc failed to properly implement them, validating complaints by trade partner Malaysia.
India's key export industries such as steel could be hit by the EU’s Carbon Border Adjustment Mechanism, which are designed to make sure Europe’s decarbonisation efforts are not undermined by trade partners with weaker pollution standards.
Ngozi Okonjo-Iweala, director-general of the World Trade Organization, told the World Economic Forum that decarbonising global trade and supply chains must occur in a way that does not disadvantage the Global South.