U.K. recognises India's carbon credit scheme under its carbon tax mechanism: official
The U.K. has officially recognized India's Carbon Credit Trading Scheme (CCTS) as a qualifying criterion for carbon price relief under its Carbon Border Adjustment Mechanism (CBAM). This recognition, confirmed by the U.K.'s HM Treasury to India's Bureau of Energy Efficiency, will reduce the carbon tax burden on Indian goods exported to the U.K. by allowing importers to claim relief for carbon prices already borne under the CCTS, thereby avoiding double taxation.
The U.K. has officially recognized India's Carbon Credit Trading Scheme (CCTS) as a qualifying criterion for carbon price relief under its Carbon Border Adjustment Mechanism (CBAM). This recognition, confirmed by the U.K.'s HM Treasury to India's Bureau of Energy Efficiency, will reduce the carbon tax burden on Indian goods exported to the U.K. by allowing importers to claim relief for carbon prices already borne under the CCTS, thereby avoiding double taxation.
Exam linkage
GS Paper 3: Environment & Ecology (Climate Change, Environmental Impact Assessment, Conservation); Indian Economy (International Trade, Trade Policy).
Syllabus mapping
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Questions on Environment & Ecology come up regularly in GS papers. Practice writing an answer — and see exactly what earns marks.
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