Carbon Border Adjustment Mechanism aims for global decarbonisation: EU

The Carbon Border Adjustment Mechanism aims to treat imported goods the same as EU-produced goods to help global decarbonisation, the Director-General of the European Commission has said following a visit to India to discuss tax and custom issues.

Carbon Border Adjustment Mechanism (CBAM) is the European Union's planned tax on the carbon emitted while making goods imported from countries like India and China. The move has sparked a debate at multilateral forums, including the United Nations climate conferences, as the poorer countries fear such tariffs will harm livelihoods and economic growth.

Director-General of the European Commission, Gerassimos Thomas, led a group of officials to New Delhi to discuss tax and customs issues, with a focus on CBAM, on July 1 and 2. He met the Indian government officials and business leaders to explore the manner in which it might affect the Indian industries and explain CBAM's goals and timeline.

Thomas welcomed India's plans to decarbonise its ..