Page 5 - Carbon Tax

Exporting into a world with carbon tax

Policymakers should help embed India in the growing presence of this tax worldwide

India explores all options to deal with EU's proposed carbon border tax

Begins sector-wise analysis to assess the impact

EU lawmakers adopt deals on emissions trading, carbon tax by 55%

European Union lawmakers on Tuesday adopted key pieces of a package designed to achieve the EU's climate goals of cutting emissions of the gases that cause global warming by 55 per cent over this decade. European Parliament members approved deals to reform the 27-nation bloc's emissions trading system, introduce a so-called carbon border adjustment mechanism and to create a new hardship fund for vulnerable households and small businesses affected by higher fuel costs arising from the new measures. The reform of the emissions trading system, which covers about 40 per cent of the EU's greenhouse gas emissions, stipulates that European industries and energy companies should cut emissions by 62 per cent by 2030 compared to 2005 levels, compared to a target of 43 per cent under the previous rules. To ensure a level playing field, member nations also agreed in December to introduce a tax on foreign companies that want to import products which don't meet the climate-protection standards wi

European Union's carbon tax may hurt metal exports, says GTRI report

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

India feeling 'little challenged' about EU's carbon tax: Official

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 -

TMSEp376: IT hiring, Ukraine war impact, aviation stocks, carbon border tax

Is the IT dream turning sour for Indian youth? How has one year of Ukraine war affected India? Will record aircraft deals add wings to aviation stocks? What is carbon border tax? All answers here

European Union carbon price passes symbolic 100 euros as reforms bite

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 writes to WTO against Carbon border tax; here's all you need to know

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

Brace for climate tariff walls, FM Nirmala Sitharaman cautions India Inc

Says the upcoming Budget will continue to push growth

Rooting for mangroves: Many reasons to expand these carbon sinks in India

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

Reforming fuel taxes

Combination of GST and carbon tax can help

How to make global trade green without hurting developing nations

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

Climate goals: Can investor activism deliver what govts could not?

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

IPCC report clarion call for nations to decarbonise economies: Minister

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.

Making trade work for climate

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

Democrats propose tax on imports from countries without climate laws

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

European Union proposes world's first carbon border tax for some imports

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

European Union's plan for carbon push stokes public backlash fears

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

Explained: Why India is protesting EU's 'discriminatory' carbon border tax

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

PM office proposes waiving carbon tax of Rs 400/tonne on coal: Report

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