DUBAI, United Arab Emirates — A European Union plan to tax the carbon pollution emitted to make goods imported from countries like India and China has sparked a debate at the United Nations climate conference in Dubai, as poorer countries fear such tariffs will harm livelihoods and economic growth. “CBAM’s sole aim is to prevent carbon leakage” elsewhere in the …
The story so far: On May 10, co-legislators at the European Commission signed the Carbon Border Adjustment Mechanism. It has been described as a “landmark tool” to put a “fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries.” The reporting system under …
Starting this October, the European Union 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. This Carbon Border Adjustment Mechanism will begin with an import monitoring mechanism and culminate in the levy of duties as …
The government is considering revising its industrial electrification strategy to prioritize adopting cleaner energy sources, such as green hydrogen and battery storage, over fossil fuels amid the need to meet net-zero targets and the potential imposition of taxes on products based on their carbon emissions by developed nations. The move comes as the steel and aluminium sectors, which predominantly use …
