Business Standard

Carbon tax

Denmark to be 1st to impose tax on livestock carbon emissions: Danish govt

A tax was first proposed in February by government-commissioned experts to help Denmark reach a legally binding 2030 target of cutting greenhouse gas emissions by 70 per cent from 1990 levels

Denmark to be 1st to impose tax on livestock carbon emissions: Danish govt
Updated On : 25 Jun 2024 | 4:46 PM IST

EU carbon tax may have limited impact on domestic aluminium producers: ICRA

Rating agency Icra on Tuesday said that the proposed European Union's carbon tax may have a limited impact on the domestic primary aluminium producers. The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026. "The Carbon Border Adjustment Mechanism (CBAM) ruling on exports to the European Union (EU) will have a limited impact on the domestic primary aluminium producers. This is because the present notification covers the financial impact w.e.f January 1, 2026, on direct process-related emission only, while excluding the indirect emission, which contributes 80 per cent to the total emissions in the primary aluminium production process," Icra said in a statement. The indirect emission primarily results from the production of electricity that is subsequently consumed in the smelting process. India exported around 0.7 metric million tonnes (24 per cent of exports) of primary aluminium to European countries in FY23.

EU carbon tax may have limited impact on domestic aluminium producers: ICRA
Updated On : 09 Apr 2024 | 7:43 PM IST

Firms in a tough global environment

Strategy thinkers have to redesign firms

Firms in a tough global environment
Updated On : 01 Apr 2024 | 12:13 AM IST

TMS Ep640: SC on Patanjali, Blinkit, Vodafone Idea stock, CBAM

Where does the buck stop after SC rap on Patanjali? Can Blinkit challenge Amazon & Flipkart? Why did Vodafone Idea's fundraise plan fail? What is the Carbon Border Adjustment Mechanism? Answers here

TMS Ep640: SC on Patanjali, Blinkit, Vodafone Idea stock, CBAM
Updated On : 29 Feb 2024 | 8:00 AM IST

EU carbon border tax will do little to cut emissions, says ADB report

It was designed to level the playing field and make foreign suppliers pay the same carbon price as domestic ones, even if they are not subject to an ETS or carbon tax at home

EU carbon border tax will do little to cut emissions, says ADB report
Updated On : 26 Feb 2024 | 11:15 PM IST

India may face 10.5% VAT on production under CBAM regime: ADB study

Sectors like ferrous metals, electricity, petrochemicals expected to be worst impacted

India may face 10.5% VAT on production under CBAM regime: ADB study
Updated On : 26 Feb 2024 | 10:46 PM IST

Talks on CCUS policy in advanced stages: Dastur Energy CEO Atanu Mukherjee

IOCL working on capturing carbon dioxide, ONGC identifying storage locations

Talks on CCUS policy in advanced stages: Dastur Energy CEO Atanu Mukherjee
Updated On : 15 Feb 2024 | 11:50 AM IST

India plans to protest EU's proposed carbon tax at WTO meeting: Report

New Delhi has also opposed EU regulations banning the import of products based on deforestation in the country of origin, likely to hit billions of dollars worth of exports from India

India plans to protest EU's proposed carbon tax at WTO meeting: Report
Updated On : 07 Feb 2024 | 7:05 PM IST

India's climate goals: Navigating a complex dilemma

Its experience underscores that unanimous advocacy for carbon taxation can be misguided, as it ignores country-specific realities

India's climate goals: Navigating a complex dilemma
Updated On : 13 Jan 2024 | 12:00 AM IST

Best of BS Opinion: CBAM as an opportunity, Social media conundrum & more

Here is the best of Business Standard's opinion pieces for today

Best of BS Opinion: CBAM as an opportunity, Social media conundrum & more
Updated On : 12 Jan 2024 | 6:30 AM IST

CBAM as an opportunity

Indian exporters could proactively adjust to it

CBAM as an opportunity
Updated On : 11 Jan 2024 | 10:12 PM IST

India Inc concerned about CBAM's impact on supply chain: PwC study

India has set an ambitious goal of generating around 50 per cent of its installed electric power capacity from non-fossil fuel-based energy resources by 2030

India Inc concerned about CBAM's impact on supply chain: PwC study
Updated On : 09 Jan 2024 | 11:15 PM IST

India seeks bargains against UK's carbon border tax as part of FTA

Both countries hope to finalise the deal by February, before the Lok Sabha election in India

India seeks bargains against UK's carbon border tax as part of FTA
Updated On : 29 Dec 2023 | 11:38 PM IST

UK plans to implement carbon tax on imported goods like steel from 2027

The British government announced plans Monday to charge a carbon levy on imported raw materials such as aluminum, iron, steel and cement from 2027, in an attempt to prevent firms being undercut by overseas producers. However, the plan has come under criticism from the body representing British steel as being too sluggish, as it will come into effect one year after similar proposals from the European Union (EU) are implemented. Announcing its plan, Britain's Treasury said the proposed new tax will level the playing field, helping greener domestic producers compete against higher carbon, but cheaper, foreign rivals. For years, fears have been expressed that efforts to cut greenhouse gases in the UK are not being matched overseas, meaning that emissions are just being displaced to other countries without ambitious net-zero targets, leading to little global benefit. This levy will make sure carbon-intensive products from overseas like steel and ceramics face a comparable carbon price

UK plans to implement carbon tax on imported goods like steel from 2027
Updated On : 18 Dec 2023 | 9:45 PM IST

EU carbon tax to hurt global trade, not to stop carbon leakage: GTRI

The decision of the European Union (EU) to impose a carbon tax on certain sectors like metals from 2026 will only hurt global trade and not help in containing carbon emissions, think tank GTRI said on Sunday. The Global Trade Research Initiative (GTRI) said that European Commissioner Wopke Hoekstra remarks that the sole aim of CBAM (Carbon Border Adjustment Mechanism) is to prevent carbon leakage which has significant flaws. It added that fossil fuels contribute to 90 per cent of Greenhouse and 75 per cent of carbon emissions and if decarbonization is the goal, the EU should heavily tax fossil-fuel imports. Carbon leakage is the phenomenon of companies moving production to countries with weaker environmental regulations to avoid paying carbon prices in the EU. This objective could have been achieved by merely taxing imports from the EU firms, which have shifted production to other countries. However, the EU chose to tax all world imports through CBAM, GTRI Co-Founder Ajay Srivastava

EU carbon tax to hurt global trade, not to stop carbon leakage: GTRI
Updated On : 10 Dec 2023 | 11:22 AM IST

Preventing carbon leakage CBAM's aim: Europe as India threatens retaliation

The European Commission on Friday said the sole aim of CBAM -- a tax the European Union plans to impose on energy-intensive goods from countries like India and China -- is to prevent carbon leakage, a situation where companies decide to shift out their production from a country with stringent policies. European Commissioner Wopke Hoekstra made this statement at a press conference at the UN climate talks here even as India's Commerce and Industry Minister Piyush Goyal threatened retaliatory action at an event in New Delhi. Hoekstra said, "CBAM's sole aim is to prevent carbon leakage." Peter Liese, a German politician and a member of the European Parliament, said the bloc aims to reduce emissions by 55 percent by 2030 and that achieving such a significant reduction without CBAM would not be feasible. Stressing that CBAM is crucial for funding the bloc's climate goals, he cautioned that any attempt to dismantle it would have far-reaching consequences beyond its scope. "Any agenda to .

Preventing carbon leakage CBAM's aim: Europe as India threatens retaliation
Updated On : 09 Dec 2023 | 6:58 AM IST

Carbon market push at COP28 summit tries to fix scandal-tainted credits

The concept of trading carbon credits across borders to accelerate the green transition is not new, nor are challenges to its transparency and impact

Carbon market push at COP28 summit tries to fix scandal-tainted credits
Updated On : 08 Dec 2023 | 11:14 PM IST

India will address EU's carbon tax issue; will retaliate if required: Goyal

India will address the issue of the European Union's plan to impose a carbon tax on certain imported goods, Commerce and Industry Minister Piyush Goyal on Friday said, adding that "I will retaliate" if required. The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026. However, from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU. "Bharat will address the problem of CBAM with confidence, and we will find solutions. We will see how we can convert CBAM to our advantage if it comes in. Of course, I will retaliate. You need not worry about it," Goyal said here at an industry chamber event. According to a report of the think tank Global Trade Research Initiative (GTRI), CBAM will translate into a 20-35 per cent tax on select imports into the EU, starti

India will address EU's carbon tax issue; will retaliate if required: Goyal
Updated On : 08 Dec 2023 | 12:59 PM IST

Global regulators seek tougher scrutiny of voluntary carbon markets: Report

IOSCO last year raised the prospect of closer scrutiny of carbon markets when it said it was concerned the quality and double counting of credits left the sector open to fraud

Global regulators seek tougher scrutiny of voluntary carbon markets: Report
Updated On : 03 Dec 2023 | 10:18 PM IST

COP28: Unilateral carbon taxes coercive trade measure, say BASIC nations

Grouping of Brazil, South Africa, India and China says new 'green trade barriers' against WTO rules

COP28: Unilateral carbon taxes coercive trade measure, say BASIC nations
Updated On : 28 Nov 2023 | 10:11 PM IST