Brazil, Russia, India, China and South Africa may strongly oppose the proposed Carbon Border Adjustment Mechanism (CBAM) by the European Union at the 13th BRICS Summit on Thursday as the five developing countries will likely be the biggest losers from its implementation. In a veiled reference to CBAM, BRICS trade ministers last week cautioned that any measure to tackle climate change must be in conformity with multilateral trading rules and shouldn’t put arbitrary restrictions on international trade.
News, indicators and facts of the work of the Green Fiscal Policy Network and our partners in India.
Concluding his three-day India visit on Wednesday, COP26 president Alok Sharma said that he has requested the Indian government to consider raising ambitions in emission reduction targets and reiterated that a delivery plan on finance for developing countries is being put in place ahead of the conference in Glasgow later this year.
The negotiating team for the European Union at the ongoing World Trade Organization talks on harmful fishery subsidies is insisting that any deal allow for continued tax exemptions for fuel purchases.
Unpopular among the bloc’s trading partners, countries are seeking exemptions to the carbon levy, as Brussels hints alternatives to pricing may be considered to dodge
Fossil fuel subsidies persist despite the climate crisis. They distort the energy market by keeping fossil fuel prices artificially low. Removing these subsidies must be accompanied by social programmes that will reduce the impact on the poorest household.
There is growing attention on the concept of carbon border adjustment mechanisms (CBAMs), a hypothetical form of trade restriction intended to deal with “carbon leakage”:
Environment minister Javadekar calls the tax proposal regressive; Minister says India wants developed nations to do more. India and other developing nations will oppose plans
Govt Working On New Scheme Worth Rs 20,000 Crore To Solarise Agriculture Feeders: Union Minister R K Singh
Government of India planning to set aside Rs 20,000 under a new scheme to solarise agricultural feeders
There is only one month left to fine-tune possible agreements for governments to stop funding overfishing
India’s total agriculture subsidies are likely to reach $45-50 billion in perpetuity by 2030. Repurposing it to support India’s 120 million smallholder farmers transition to