10th May 2023 (10 Topics)
1
May
2
May
3
May
4
May
5
May
6
May
8
May
9
May
10
May
11
May
12
May
13
May
15
May
16
May
17
May
18
May
19
May
20
May
22
May
23
May
24
May
25
May
26
May
27
May
29
May
30
May
31
May
Green Crosshairs: Carbon Border Adjustment Mechanism
Context
- The European Union (EU) proposes to introduce a framework for levying a carbon tax on imports of products that rely on non-green or sub-optimally sustainable processes and where carbon emissions are deemed to have not been adequately priced.
Key highlights:
- A multi-pronged counter is warranted to tackle the European Union’s carbon tax plans.
- This Carbon Border Adjustment Mechanism (CBAM) will begin with an import monitoring mechanism and culminate in the levy of duties as determined from January 2026.
- The CBAM will ensure its climate objectives are not undermined by carbon-intensive imports and spur cleaner production in the rest of the world.
- This poses a significant threat to some of India’s biggest exports to the trading bloc, including iron ore and steel, with carbon levies estimated to range from 19.8% to 52.7%.
More Articles
Courses
Study
Notes
Home
Resources
More
