A levy on carbon majors is being pushed by green groups as one of the sources to operationalise the loss and damage fund in ongoing board meetings leading up to COP29.
India's key export industries such as steel could be hit by the EU’s Carbon Border Adjustment Mechanism, which are designed to make sure Europe’s decarbonisation efforts are not undermined by trade partners with weaker pollution standards.
This year's budget, which includes a S$5 billion energy fund and investment sweeteners for sustainability initiatives, is seen as one that will signal the future priorities for the city-state's new generation of leaders.