 "climate change, pollution, carbon emission, coal energy")
As the road unwinds towards Belem for COP 30, contentious issues of carbon emission dominate the global discourse. Countries across the globe have been taking a series of steps to decarbonise their industries by adopting market-based approaches by pricing their carbon emission as well as recycling the revenue thus generated to fulfil their mitigation and adaptation finance needs.
These carbon pricing mechanisms, however, allegedly may give rise to ‘carbon leakage’, when applied unilaterally by countries. This underpins the emergence of contentious Carbon Border Adjustment Mechanism (CBAM) by EU and UK, rationalised as a means to curb carbon leakage and protect
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