Carbon Border Tax – Why it may have adverse impact on India’s exports to the EU

Launched in 2005, European Union Emissions Trading System (‘EU ETS’), a long-standing greenhouse gas emissions trading scheme, is a cornerstone of the EU energy policy to battle global warming. The European Commission, in 2020, had approved a set of revitalised policies, collectively named “The European Green Deal”, with a primary objective to curb climate change by dipping carbon emissions by EU nations in a phased manner, striving to become a net-zero emitter of greenhouse gases, by the year 2 ..