Moody's: Apac's carbon-intensive economies vulnerable to emission taxes

KUALA LUMPUR: Carbon taxes imposed by other countries on Asia-Pacific’s exports could dampen the region’s trade activity, particularly in carbon-intensive products, according to Moody’s Investors Service in its latest report.

Moody’s assistant vice-president and analyst Deborah Tan said Asian economies will be slower to embrace carbon taxes, which is meant to encourage the reduction of greenhouse gas emissions, than their major export markets such as the European Union.