Why in News?
The EU and India are working to resolve a trade issue related to the EU’s Carbon Border Adjustment Mechanism (CBAM).
Proposed by | European Union (EU) |
Purpose | To reduce carbon emissions from imported goods and prevent competitive disadvantage against countries with weaker environmental regulations |
Objectives | Reduce carbon emissions from imported goods Promote a level playing field between the EU and its trading partners Protect EU companies that have invested in green technologies |
Coverage | Applies to imported goods that are carbon-intensive |
Integration | Covered by the EU’s Emissions Trading System (ETS), which currently covers industries like power generation, steel, and cement |
Implementation | CBAM taxes would be imposed on the carbon content of imported goods at the border, and the tax rates would be based on the carbon price in the EU ETS |
Exemptions | Possible exemptions for countries that have implemented comparable carbon pricing systems |
Revenue Use | Revenue generated from CBAM taxes could be used to fund the EU’s climate objectives, such as financing climate-friendly investments and supporting developing countries’ climate efforts |
Who will be affected by CBAM?
Details | |
Countries | Non-EU countries, including India, that export carbon-intensive goods to the EU |
Items | Initially covers iron and steel, cement, aluminium, fertilisers, and electric energy production |
Expansion | The scope of the CBAM may expand to other sectors in the future |
To minimize the impact of CBAM, India can consider several actions:
Source: The Hindu
Why in News?
Goans are worried after the Central Water Commission (CWC) approved the Detailed Project Report (DPR) for Karnataka’s Kalasa Bhandura canal to divert water from the upper reaches of Mahadayi to the Malaprabha basin.
About Mahadayi river:
What is the Kalasa-Banduri project and Mandovi river dispute?
Importance of Mandovi to Goa:
Source: Indian Express
Why in News?
CCPA asks e-commerce sites to stop selling car seat belt alarm stoppers
About CCPA:
Source: Indian Express
Why in News?
The Ministry of Ports, Shipping and Waterways (MoPSW) has secured the second position among 66 ministries in the highly influential Data Governance Quality Index (DGQI) assessment for 2022-2023 (Q3)
About Data Governance Quality Index (DGQI):
Objectives:
3 key pillars: The DGQI assessment covers three key pillars of data preparedness:
Source: The Print
Why in News?
The Health Ministry in India is concerned about the high incidence of unnecessary hysterectomies, particularly among poor, less-educated women in rural areas.
A public interest litigation (PIL) highlighted the occurrence of unnecessary hysterectomies in the states of Bihar, Chhattisgarh, and Rajasthan under government healthcare schemes.
Source: The Hindu
Why in News?
The Union Cabinet cleared a revised production linked incentive (PLI) scheme for IT hardware with an outlay of Rs 17,000 crore, more than doubling the budget for the scheme that was first cleared in 2021.
The Production Linked Incentive (PLI) Scheme:
Source: Indian Express
Why in News?
The Assam government successfully conducted an eviction drive at Burachapori Wildlife Sanctuary
About Burachapori Wildlife Sanctuary
Source: The Print
Why in News?
For giving fresh impetus to deliverables under the flagship Pradhan Mantri Matsya Sampada Yojana(PMMSY), seven major field studies are being carried out by National Productivity Council (NPC).
National Productivity Council:
Pradhan Mantri Matsya Sampada Yojana (PMMSY)
Source: PIB
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