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Context: At the two-day G-20 ministerial meeting on environment and climate change in Italy, developing countries, including India, are expected to raise their concerns over the European Union’s recent proposal on the first of its kind carbon border tax.Under this proposal, the 27 EU nations will impose border tax on imports of carbon-intensive goods.Yet to be legally formalised, the tax plan could come into force from 2026.On similar lines, Democratic lawmakers, earlier this week, introduced a legislation establishing a carbon tariff on certain imports like steel as a means to fight climate change.So what exactly is a carbon border tax? Why do developed countries want to impose such a tariff and why are developing nations opposed to the idea?
What is carbon border tax?
What is the EU’s proposal?
What is the rationale?
Two keys reasons for the carbon tax proposal are EU’s environmental goals and its industries' global competitiveness.
Secondly, the 27 EU member states have much stricter laws to control GHG emissions.
Who all have opposed it?
How does this impact India?
What are the larger implications?
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