India criticized the European CBAM at COP30

India criticized the European CBAM at the COP30 climate conference in Brazil, calling it protectionist and violating the spirit of the relevant UN Convention. This was reported by The Times of India.

India made statements on behalf of the BASIC group (Brazil, South Africa, India, and China) and the Like-Minded Developing Countries (LMDC) at the first plenary session of COP30, reiterating its opposition to the European mechanism.

Since the announcement of the introduction of CBAM, India has argued that it will create an additional burden on businesses in developing countries due to the embedded emissions in their products. It was noted that micro, small, and medium-sized enterprises in the steel and aluminum sectors would be particularly affected.

In its statement at COP30, New Delhi also emphasized the importance of common but differentiated responsibilities and respective capabilities. The country stressed that climate finance is a major obstacle for developing countries, which face adaptation needs and bear the brunt of global warming.

India, among other things, called for a clear and commonly agreed definition of climate finance, strengthening and increasing public finance for adaptation, and implementing Article 9.1 of the Paris Agreement, which reaffirms the legal obligation of developed countries to provide finance to developing countries.

It should be recalled that the European Union will offer development funding to countries affected by the Cross-Border Carbon Adjustment Mechanism (CBAM). This was announced in October by the European Commission when it presented its international strategy for securing Europe’s place in global markets.