Border Carbon Adjustments: Trinidad and Tobago country report

Table of Contents

• Table 1. Trinidad and Tobago’s top export products in 2021 14
• Table 2. Trinidad and Tobago’s top export partners in 2022 15
• Table 3. The world’s main exporters of BCA-affected products 17
• Table 4. Mitigation measures in BCA-affected sectors 20
• Table 5. Employment across sectors (% of total employment) 22
• Table A1. Trinidad and Tobago’s top exports to the European Union in 2021 47
• Table A2. Trinidad and Tobago’s top exports to the United States in 2021 47
• Table A3. Trinidad and Tobago’s top exports to the United Kingdom in 2021 48
• Table A4. Trinidad and Tobago’s top exports to Canada in 2021 48
• Table A5. Trinidad and Tobago’s top exports to Japan in 2021 49
• Figure 1. Methodology and approach 11
• Figure 2. Trinidad and Tobago’s exports to the EU 16
• Figure 3. GHG Emissions by sector and BCA-affected sub-sectors 18
• Figure 4. GHG emission, total and industrial sector (in gigagrams of carbon dioxide equivalent [Gg CO₂e]) 18
• Figure 5. Stakeholder familiarity with BCAs 24
• Figure 6. Stakeholder support for BCAs 24
• Figure 7. Stakeholder view on whether BCAs will become a widespread policy tool 25
• Figure 8. Stakeholder views on the most relevant design elements of BCAs 29
• Figure 9. Stakeholder views on whether BCAs will encourage global cooperation 33
• Figure 10. Stakeholder views on how BCAs will impact global carbon emissions 34
• Figure 11. Stakeholder views on which principles should be prioritized when guiding BCA design 34
• Figure 12. Stakeholder views on whether the financial sector is supporting decarbonization 38
• Figure 13. Stakeholder views on obstacles to providing green finance 38
• 1.0 Background, Methodology, and Approach 8
• 1.1. Introduction 8
• 1.2 Objectives of the Report 10
• 1.3 Methodology and Approach 10
• 2.0 The Potential Impacts of BCAs on Trinidad and Tobago 12
• 2.1 Trinidad and Tobago: Context 12
• 2.2 Economic Impacts 13
• 2.3 Environmental Impacts 17
• 2.4 Social Impacts 21
• 3.0 Stakeholder Responses 23
• 3.1 Responses and Actions Taken by Stakeholders 23
• 4.0 Key Design Elements of BCAs 29
• 5.0 International Principles and Best Practices 33
• 6.0 The Role of the Financial Sector 37
• 6.1 Financial Sector Support for Decarbonization 37
• 6.2 Design of BCAs for the Financial Sector to Play a Role 41
• 7.0 Conclusion and Recommendations 42
• References 45
• Appendix A. The Economic Impact of Border Carbon Adjustments 47