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In this paper we pointed out a hidden inequality in accounting for trade-related emissions in the presence of border carbon adjustment. Under a domestic carbon pricing policy, producers pay for the carbon costs in exchange for the right to emit. Under border carbon adjustment, however, the exporting country pays for the carbon costs of their...

The Kyoto Protocol required only developed countries to reduce their emissions but did not require developing countries to do so, and this created an asymmetric condition for developed and developing countries to implement domestic climate policies. Implementing a domestic climate policy in developed countries, such as an emission trading system or...