Carbon Border Adjustment Mechanism (CBAM)
It is plan from the European Union (EU), proposed in 2021.
- It proposes to tax carbon-intensive products, such as iron and steel, cement, fertilizer, aluminium, electricity, and hydrogen, from 2026.
- It aims to eliminate the difference in carbon price paid by companies subjected to the EU’s Emissions Trading System (ETS) or its domestic compliance-based carbon market.
- It is also part of the “Fit for 55 in 2030 package”- EU’s plan to reduce GHG emissions by at least 55% by 2030 compared to 1990 levels, in line with the European Climate Law.
- Under the mechanism, EU importers buy carbon certificates corresponding to the ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Climate Justice and the Principle of Equity in Negotiations
- 2 Carbon Border Adjustment Mechanism (CBAM) – Implications for Indian Exports
- 3 Climate Finance and Operationalizing Loss & Damage Mechanisms
- 4 NDCs and India’s Progress on Paris Agreement Targets
- 5 Climate Finance Taxonomy: Defining Green Investment Standards
- 6 Climate Change: Impacts on Agriculture and Food Security
- 7 Water Scarcity and Climate Resilience
- 8 Emissions Trading and Air Quality Management
- 9 Forest Fire Management in India
- 10 Sudden Climate Variability and Extreme Weather Pattern Shifts
