{"id":2886,"date":"2023-05-09T13:55:41","date_gmt":"2023-05-09T11:55:41","guid":{"rendered":"https:\/\/www.co2news.sk\/?p=2886"},"modified":"2023-05-09T18:09:30","modified_gmt":"2023-05-09T16:09:30","slug":"explaining-why-the-eus-carbon-border-tax-worries-other-countries-including-india","status":"publish","type":"post","link":"https:\/\/www.co2news.sk\/en\/2023\/05\/09\/explaining-why-the-eus-carbon-border-tax-worries-other-countries-including-india\/","title":{"rendered":"Explained | Why does the EU&#039;s carbon border tax worry other countries, including India?"},"content":{"rendered":"<p class=\"sub-title\">The European Union&#039;s Carbon Border Tax Mechanism will introduce a tax on imported goods with a high carbon content from countries with less stringent climate rules. <b>Story so far:<\/b>\u00a0The 27-nation European Union (EU) is stepping up its push for climate action with the European Parliament, the bloc&#039;s lawmaking body, as climate talks gather pace. Earlier this month, it voted to approve a wide-ranging deal to reform the EU&#039;s carbon market, with the aim of reducing emissions by 62 % by 2030 compared to 2005 levels. The carbon market mechanism has helped reduce emissions from power plants and factories by 43 % since 2005, however, it will phase out CO2 emissions permits for factories by 2034. Alongside this phasing out of free carbon allowances, the EU will gradually introduce another ambitious and first-of-its-kind policy \u2013 the Carbon Border Adjustment Mechanism (CBAM), aimed at leveling the playing field for EU producers and encouraging trading partners outside the EU to adopt carbon pricing regimes as a critical approach to the fight against climate change. While the EU believes the mechanism is a global solution to the global problem of climate change, trading partners such as the United States, China, Russia and developing countries including India have opposed the measure, calling it unilateral, &quot;protectionist&quot; and even trade-friendly. weapon. Lawmakers in the European Parliament reached a political agreement on a carbon border tax last December, but India, along with China, Brazil and South Africa, opposed the plan at the 27th climate summit of the Conference of the Parties (COP27) in Sharm El Sheikh. He argues that this could lead to market distortions and affect developing countries that did not initially contribute to industrial emissions. <em>(Diksha Munjal, The Hindu)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>The European Union\u2019s carbon border tax mechanism will impose a tax on imported carbon-intensive goods from countries with less stringent climate rules. The story so far: The 27-nation European Union (EU) is stepping up its efforts on climate action with the European Parliament, the bloc\u2019s lawmaking body, as it gathers pace in climate talks. Earlier this month, it voted in favour of [\u2026]<\/p>","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17,1],"tags":[],"class_list":["post-2886","post","type-post","status-publish","format-standard","hentry","category-cop28-cop29-cop30-cop31","category-znizovanie_co2_cdr_ccs_ccu_dac"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/2886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/comments?post=2886"}],"version-history":[{"count":0,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/2886\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/media?parent=2886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/categories?post=2886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/tags?post=2886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}