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Carbon Border Adjustment, Trade and Climate Governance: Issues for OPEC Economies

The relation between the climate regulation and the multilateral trade regime is a rising issue in the field of international governance. This paper presents the options available to Organization of Petroleum Exporting Countries' economies related to this. It analyses the option of introducing a carbon tax or border adjustment measures in the core of the World Trade Organization (WTO) regime. It demonstrates that this option is not sustainable for both institutional and political economy reasons. This is why the paper argues that the way to build a climate-compatible trade regulation that takes into account oil-exporting countries' interests is to elaborate a cross-institutional cooperation between the WTO and the United Nations Framework Convention on Climate Change.