10 MAY,2023.
10-05-2023
By Admin
Green crosshairs (PG 8)(GS 3)
10 MAY,2023.
•will ensure its climate objectives are not undermined by carbonintensive imports and spur Starting this October, the European Union (EU) proposes to introduce a framework for levying a carbon tax on imports of products that rely on nongreen or suboptimally sustainable
•processes and where carbon emissions are deemed to have not been adequately priced.
•This Carbon Border Adjustment Mechanism (CBAM) will begin with an import monitoring mechanism and culminate in the levy of duties as determined from January 2026.
•The EU argues that the CBAM cleaner production in the rest of the world.