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The Carbon Border Adjustment Mechanism (CBAM), proposed by the European Union to combat carbon leakage, presents a complex landscape of opportunities and challenges in the realm of global climate governance. This paper explores the problems and controversies surrounding CBAM, including potential WTO incompatibility, violations of UNFCCC principles, and complexities in carbon accounting. It also examines the potential impact of CBAM on developing countries and offers a range of suggested solutions. These solutions encompass designing domestic carbon markets in alignment with the European model, implementing policy and regulatory reforms, fostering China-European bilateral relations, and emphasizing international cooperation and adherence to established legal frameworks. Additionally, at the enterprise level, strategies to invest in green technologies, establish comprehensive carbon accounting systems, and adapt to the evolving low-carbon economy are proposed. By addressing these challenges and embracing these strategies, nations and businesses can contribute to a more sustainable and equitable global climate governance framework.
Haoqing Meng (Wed,) studied this question.