Banking service chronicle this article was published in the magazine the cbam is also known as a carbon border tax or a carbon leakage instrument. a carbon border tax is a tax on carbon emissions imposed on imported goods from countries with less strict climate policies. it aims to create a level playing field between imports and domestic production. the undermining of global climate efforts due to relocation of production is defined as carbon leakage. indias opposition & other concerns discriminatory india have opposed cbam calling it discriminatory as it will ramp up prices of their goods in europe and shrink demand. Banking service chronicle magazine huge impact on india india exports about $2 billion worth of products annually to the eu that would attract the cbam levy. most of it is in the iron and steel space with aluminum making up the rest. against the un principle of common but differentiated responsibilities and respective capabilities (cbdr–rc) the principle acknowledges that richer countries have a responsibility of providing financial and technological assistance to developing and vulnerable countries to fight climate change Banking service chronicle magazine subscription.
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