Carbon Tax

"High tariff walls will disrupt world trade," the think tank said

India on Wednesday said it is concerned about the European Union's announcement of imposing carbon tax, saying such measures require New Delhi to recalibrate its approach towards a free trade agreement. In January last year, India and the EU resumed negotiations for a free trade agreement, investment protection and Geographical Indications (GI). "Apart from the sustainability and all other issues, we are also a bit, I would not say perturbed but we are feeling little challenged with the announcement of CBAM recently and it is going to cover 5-6 sectors which are key to Indian industry and supply chains," Joint Secretary in the Department of Commerce Nidhi Mani Tripathi said. The EU is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year. CBAM will translate into a 20-35 per cent tax on select imports into the EU starting January 1, 2026. Speaking at an event organised by industry body CII, she said there is also another regulation which is to come up -

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The price of releasing planet-heating carbon into the atmosphere rose above 100 euros (about $107) in the European Union for the first time this week, a signal that experts said Wednesday speaks for the bloc's efforts to make polluting costlier. The EU has laid down a path to become carbon neutral by 2050, meaning it would only emit as much carbon dioxide as can be absorbed again through natural or artificial means. In 2005 it established an emissions trading system, or ETS, where major emitters have to buy allowances for every ton of CO2 they release. The price, calculated per ton of carbon dioxide or equivalent greenhouse gas emissions, had long remained under 25 euros before rising sharply about two years ago. It had hovered around 90 euros for the past year until Tuesday, when it passed the 100-euro mark for the first time. No one thought it would be likely or feasible that the price would go up to such a level in such a short time, said Michael Pahle, who heads the energy polic

India has written to WTO raising concerns over selective application of carbon border rules to trade-exposed industries like steel, aluminium, chemicals, plastics, polymers, chemicals and fertilisers

Says the upcoming Budget will continue to push growth

The mangrove ecosystem offers economic benefits besides safeguarding the country's vast coastline

Combination of GST and carbon tax can help

Developed countries should share finance and green technologies with developing countries to help them reduce emissions and transition to clean production processes, various stakeholders say

The moves by investors and accounting innovations by economists and auditors could make a critical difference on the margin. Call it Plan B; there is no Plan C, writes T N Ninan

The IPCC report on climate change is a clarion call for the developed nations to immediately cut emissions and decarbonize their economies, Union Environment Minister Bhupender Yadav said on Monday.

The world cannot dodge the question of global trade and consumption anymore

Two influential Democratic lawmakers are proposing to introduce bicameral legislation to impose a tax on imports from countries like China and many others

A transitional phase from 2023-25 will see importers monitoring and reporting their emissions

A European Union plan to extend carbon pricing to the fuel used in cars and to heat homes is facing a wall of early resistance from countries and lawmakers fearing a public pushback

As India's third largest trading partner, the EU accounted for €62.8 billion ($74.5 billion) worth of trade in goods in 2020.

PMO has proposed waiving the carbon tax of 400 rupees ($5.61) per tonne that was levied on the production and import of coal, according to the documents reviewed by Reuters

A wider portfolio of policies, applicable to all competitors, are needed before businesses consider deep mitigation actions

The tax would be levied on all facilities producing 25,000 tonnes or more of greenhouse gas emissions a year