EU Carbon Border Adjustment Mechanism
EU carbon tariff on carbon intensive products
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The EU Carbon Border Adjustment Mechanism is a carbon tariff on carbon intensive products, such as steel, cement and some electricity, imported to the European Union. Legislated as part of the European Green Deal, it takes effect in 2026, with reporting starting in 2023. CBAM was passed by the European Parliament with 450 votes for, 115 against, and 55 abstentions and the Council of the EU with 24 countries in favour. It entered into force on 17 May 2023.
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India likely to flag proposed carbon border tax during European Commission president's visitIndia plans to highlight its concerns over the European Union's proposed Carbon Border Adjustment Mechanism (CBAM) during Ursula von der Leyen's visit. The CBAM, set to be implemented next year, will..IndiaTimes - Published | |
COP29: India opposes EU plan for border tax on carbon-intensive goods, seeks bold action from rich nationsAt COP29, India opposed unilateral trade barriers like the EU's Carbon Border Adjustment Mechanism, arguing they unfairly burden developing nations. India emphasized technology transfer, climate..IndiaTimes - Published |
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