The EU’s introduction of a ‘Carbon Border Adjustment Mechanism’ is set to mark the start of a new age of international trade. However, emerging markets remain reliant on exports to developed countries for their economic growth. With these nations yet to fund a transition to clean energy, bodies like the World Trade Organization (WTO) are likely to label such tariffs as unfairly protectionist and could threaten to derail the entire operation. This, in turn, could lead to long term strains within the WTO and a weakening of its global grip on economic proceedings. Which way this goes will depend upon how much Europe is committed to WTO rules or if it feels more committed to its climate ambition. Carbon pricing…