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Carbon Pricing at Export Markets: Trade-Related Implications in Trinidad and Tobago
Author:
Ilya Stepanov
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,
Diego A Gutierrez
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Camilo E Tovar Mora
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Series:
IMF Working Papers
Volume/Issue:
Volume 2025: Issue 028
Language:
English
Publication Date:
24 Jan 2025
DOI:
https://doi.org/10.5089/9798229000666.001
ISBN:
9798229000666
ISSN:
1018-5941
Pages:
22
Keywords:
carbon pricing; border carbon adjustment; Trinidad and Tobago; EU’s Carbon Border Adjustment Mechanism (CBAM); decarbonization; climate policy; EU CBAM; EU's Carbon Border Adjustment Mechanism; intensity reduction; EU's CBAM; Greenhouse gas emissions; Exports; Climate change; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines the potential impact of border carbon adjustments on Trinidad and Tobago’s exports. Despite its marginal contribution to global greenhouse gas emissions, the country’s high carbon intensity exposes the economy to global low-carbon transition risks. The paper aims to raise awareness and encourage discussions on critical actions needed to maintain export competitiveness, enhance diversification, support balance of payments stability, and finance a green transition. The analysis recommends building on existing policies to integrate transition risks into development strategies, promote carbon intensity reduction, accumulate relevant data, and explore innovative emissions reduction approaches, including carbon pricing.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund