India will take a call if Europe imposes carbon tax, says environment minister

livemint.com:

Mint earlier reported about India considering imposing retaliatory tariffs on EU exports in response to the bloc’s proposed carbon tax that could disrupt over $8 billion worth of Indian metal exports to the EU. As the EU’s CBAM has been in discussion, Yadav said, “until a proposal comes, we cannot take a call. Our stand on this will be protecting the larger interests of all developing nations." “Before COP29, pre-consultations are taking place.

The experts’ meeting has already taken place. A consultation at the secretary level has also been held. A different consultation dialogue of UNFCCC is ongoing.

Another pre-COP meeting will take place and thereafter the agenda for COP will be set based on these," Yadav said in an interview. As at other COPs, climate finance is expected to take the centre-stage at the 29th edition of COP for developing countries that need to transition to low carbon economies. India, along with the US and China, is one of the world's largest emitters of carbon.

A new collective quantified goal (NCQG) on climate finance, a key element of the Paris Agreement, designed to set a new financial target to support developing countries in their climate actions, will be set before 2025 from a floor of $100 billion per year. India has been an important voice in the climate finance conversation and has been participating in the global discussion transparently and productively. As one of the world’s largest countries and economies, India is integral to meeting collective climate action goals.

“Our stand has always been towards fulfilment of developing countries’ financial commitment and technology transfer. India focuses on solutions instead of creating hurdles. You must have seen a constructive role of India in