Fri, 24 Mar 2023

CBAM or Carbon Tax

Why in news? European Union is willing to collaborate with India in easing the administrative burden for businesses while enforcing its Carbon Border Adjustment Mechanism (CBAM).

About:

The Carbon Border Adjustment Mechanism (CBAM), also known as the carbon border tax, adds a pollution price on certain imports to the EU.
This measure makes it necessary for carbon-intensive industries to comply with stricter emission standards.
It is a tax that imposes importers and non-EU manufacturers to pay for the carbon emission linked to the goods they sell within EU limits.
Under the political agreement, the CBAM will enter into force in its transitional phase as of 1 October 2023.

https://www.livemint.com/industry/energy/eu-says-it-s-ready-to-work-with-india-on-carbon-tax-11679423674958.html

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CBAM or Carbon Tax

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