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Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:
Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.
Statement 2: CBAM will apply to all products imported into the EU without any exceptions.
Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.
Statement 2: CBAM will apply to all products imported into the EU without any exceptions.
Which of the statements given above is/are correct?
- a)Only Statement 1
- b)Only Statement 2
- c)Both Statement 1 and Statement 2
- d)Neither Statement 1 nor Statement 2
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Regarding the European Union’s Carbon Border Adjustment Mechanis...
Explanation:
Statement 1:
- This statement is correct. The main objective of the Carbon Border Adjustment Mechanism (CBAM) is to prevent carbon leakage by ensuring that the price of carbon is equalized between domestic producers in the EU and foreign producers. By imposing a carbon price on imports, CBAM aims to create a level playing field for industries within the EU and encourage cleaner industrial production globally.
Statement 2:
- This statement is incorrect. CBAM will not apply to all products imported into the EU without any exceptions. The EU has indicated that certain products may be exempted from the CBAM, such as those originating from countries with ambitious climate policies or subject to equivalent carbon pricing mechanisms. The final scope and exemptions of the CBAM are still under discussion and will be determined through further negotiations.
Statement 1:
- This statement is correct. The main objective of the Carbon Border Adjustment Mechanism (CBAM) is to prevent carbon leakage by ensuring that the price of carbon is equalized between domestic producers in the EU and foreign producers. By imposing a carbon price on imports, CBAM aims to create a level playing field for industries within the EU and encourage cleaner industrial production globally.
Statement 2:
- This statement is incorrect. CBAM will not apply to all products imported into the EU without any exceptions. The EU has indicated that certain products may be exempted from the CBAM, such as those originating from countries with ambitious climate policies or subject to equivalent carbon pricing mechanisms. The final scope and exemptions of the CBAM are still under discussion and will be determined through further negotiations.
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Community Answer
Regarding the European Union’s Carbon Border Adjustment Mechanis...
CBAM is designed to encourage cleaner production by equalizing the carbon price. However, it initially applies to certain carbon-intensive goods, not all products.
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Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer?
Question Description
Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer?.
Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Regarding the European Union’s Carbon Border Adjustment Mechanism (CBAM), consider the following statements:Statement 1: CBAM aims to encourage cleaner industrial production worldwide by equalizing the price of carbon between domestic and imported products.Statement 2: CBAM will apply to all products imported into the EU without any exceptions.Which of the statements given above is/are correct?a)Only Statement 1b)Only Statement 2c)Both Statement 1 and Statement 2d)Neither Statement 1 nor Statement 2Correct answer is option 'A'. Can you explain this answer?.
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