{"id":241706,"date":"2023-05-10T20:59:31","date_gmt":"2023-05-10T15:29:31","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=241706"},"modified":"2023-05-10T20:59:31","modified_gmt":"2023-05-10T15:29:31","slug":"green-crosshairs-a-multi-pronged-counter-is-warranted-to-tackle-the-eus-carbon-tax-plans","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/green-crosshairs-a-multi-pronged-counter-is-warranted-to-tackle-the-eus-carbon-tax-plans\/","title":{"rendered":"Green crosshairs – A multi-pronged counter is warranted to tackle the EU\u2019s carbon tax plans"},"content":{"rendered":"\n

Source:\u00a0<\/strong>The post is based on the article\u00a0\u201cGreen crosshairs – A multi-pronged counter is warranted to tackle the EU\u2019s carbon tax plans\u201d <\/b><\/strong>published in The Hindu <\/strong>on\u00a010th May 2023.<\/b><\/strong><\/p>\n

Syllabus<\/strong>: GS 2 \u2013 Effect of policies and politics of developed and developing countries on India\u2019s interests.<\/p>\n

Relevance<\/strong>: About Carbon Border Adjustment Mechanism of EU.<\/p>\n

News<\/strong>: The European Union (EU) proposes to introduce a Carbon Border Adjustment Mechanism (CBAM) in the upcoming October. The carbon levies are estimated to be in the range from 19.8% to 52.7<\/p>\n

What is Carbon Border Adjustment Mechanism (CBAM) and Why it is a cause of worry for India?<\/h2>\n

According to EU, the CBAM will ensure its climate objectives are not undermined by carbon-intensive imports and spur cleaner production in the rest of the world.<\/p>\n\n\n\n
Must read: EU\u2019s carbon border tax \u2013 Explained, pointwise<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Last year, about a third of India\u2019s iron, steel and aluminium exports were shipped to EU members.\u00a0 Engineering products are the largest export growth driver in recent years. So, the CBAM will impact Indian exports to Europe<\/strong>.<\/p>\n

What are India’s options against the CBAM?<\/h2>\n

The Centre view the tax as a sophisticated trade barrier put out within \u2018greenwashing\u2019 optics<\/strong>.<\/p>\n

-The EU believes the carbon tax is compatible with World Trade Organization norms<\/strong>, but India is looking to challenge that.<\/p>\n

-India may also flag the incompatibility with the UN\u2019s climate change framework<\/strong> which moots common but differentiated responsibilities for developed and developing nations.<\/p>\n

-A threat of retaliatory tariffs on EU imports might also be feasible.<\/p>\n\n\n\n
Read more: Exporting into a world with carbon tax<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

What India should do against the CBAM?<\/h2>\n

India at present is planning to quantify the various carbon taxes levied in India. Many of the poorer countries rely more heavily on mineral resources than India does.<\/p>\n

Having positioned itself as the voice of the global South, the current president of G20, India should explore all the options against the CBAM and also alarm other nations about the EU\u2019s carbon tax framework.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source:\u00a0The post is based on the article\u00a0\u201cGreen crosshairs – A multi-pronged counter is warranted to tackle the EU\u2019s carbon tax plans\u201d published in The Hindu on\u00a010th May 2023. Syllabus: GS 2 \u2013 Effect of policies and politics of developed and developing countries on India\u2019s interests. Relevance: About Carbon Border Adjustment Mechanism of EU. News: The… Continue reading Green crosshairs – A multi-pronged counter is warranted to tackle the EU\u2019s carbon tax plans<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10498],"class_list":["post-241706","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":2,"cached_at":"","cached_date":1698445505},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/241706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=241706"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/241706\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=241706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=241706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=241706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}