News / #carbon tax
Eco-Business takes a look at the key issues being pushed at the pavilions of Asean countries at the climate summit in Baku.
The EU’s carbon border adjustment mechanism (CBAM) has been touted as a key policy for cutting emissions from heavy industries, such as steel and cement production.
The carbon capture capacity set to come online by 2030 far outpaces transport and storage capacity in key markets, finds a new report. Apart from Japan and Indonesia, the rest of Asia still lacks clear regulations for the costly technology.
Citing estimates, former central banker Ravi Menon says a carbon price of just US$20 per tonne could halve Southeast Asia's deforestation rate. At the Unlocking capital for sustainability 2024 summit, he cautioned that Asia cannot compromise on emissions cuts even as it pursues growth. The loss of carbon sinks has "serious implications".
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