The World Trade Organization (WTO) is establishing a task force to develop a methodology for determining global carbon prices. The goal is to prevent import taxes based on carbon emissions from unfairly penalizing developing countries. Many see these taxes as protectionist measures, and some countries lack the tools to calculate the carbon price of their exports. The creation of a global carbon pricing methodology is aimed at ensuring fair competition for developing countries, especially in the face of Europe's introduction of import taxes based on CO2 emissions. The task force has received support from various finance ministers and aims to facilitate a common approach and methodology for carbon pricing discussions between developed and developing countries.

Source: Reuters