Thomas Kerr, Lead Climate Specialist at the World Bank, warned that the EU's Carbon Border Adjustment Mechanism (CBAM) will significantly impact Indian exports, particularly in steel, aluminum, and other high-emission industries.

Speaking at PRAKRITI 2025, where he chaired and moderated the opening plenary session on Private Sector Perspectives on the Indian Carbon Market, he said that India's carbon market does not function in isolation and will be influenced by global carbon pricing policies. He stressed that businesses should prepare for these shifts and take urgent action in domestic carbon markets.