THE CARBON TAX that the European Union (EU) will impose on five bulk commodities will make India's aluminium exports to Europe unviable, according to a report.
The tax that is part of the wider plan of the 27-member bloc, called Carbon Border Adjustment Mechanism (CBAM), to bring down net carbon emissions to zero by 2050 will add an incremental cost of $1,500-1,600 per tonne of aluminium that will be exported to the EU, the analysis by rating agency Crisil said.
The tax under CBAM has been proposed on iron & steel, cement, aluminium, fertilisers and electricity to start with. While the transition period for the new tax will start from October 1 of this year, actual collection will begin from January 2026. During the transition period, the EU will collect firm-level data on carbon emission while making the product.
Bu hikaye Financial Express Mumbai dergisinin June 14, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin June 14, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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