- Carbon Border Adjustment Mechanism (CBAM) is a proposed tax by the European Union on energy-intensive products imported from countries like India and China
- A report by the Centre for Science and Environment (CSE) claims that CBAM will impose a 25% tax on carbon-intensive goods exported from India to the EU
- Developing countries are concerned that CBAM will harm their economies and make trading with the EU too expensive
- Critics argue that CBAM unfairly penalizes the Global South and overlooks historical emissions from the Global North
- CSE recommends a counter-tax on rich countries responsible for climate change and implementing a domestic carbon tax to support decarbonization efforts in India.
Source: timesofindia.indiatimes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- India’s GST Council Recommends Tax Exemptions, Simplified Structure, and Rate Reductions Effective September 22
- Nirmala Sitharaman Explains GST Reforms Using Popcorn Example to Highlight Classification Challenges
- GST Overhaul: Cheaper Small Cars, Bikes; Higher Tax on Premium Vehicles from September 22, 2025
- GST Revamp: 40% Tax on Sin Goods and Luxury Items Explained
- GST Council Unveils Next-Gen Reforms: Export Services, Refunds, Tribunal, and Rate Simplification
