BRICS Environment Ministers oppose European Union’s Carbon Border Tax

BRICS Environment Ministers oppose European Union’s Carbon Border Tax. (See the linked source for details.)

Reported by 3 sources

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Quick Revision

Prelims-testable facts

01The European Union's Carbon Border Adjustment Mechanism (CBAM) is a unilateral, punitive, discriminatory, and protectionist climate measure.
02The BRICS Environment Ministers have opposed the EU's CBAM, calling it a violation of international law.
03The CBAM is a carbon border tax imposed by the European Union on imported goods from countries with lower carbon prices.
04The BRICS countries, including India, China, Russia, South Africa, and Brazil, have expressed their opposition to the EU's CBAM.
05The BRICS Environment Ministers have urged increased international funding for developing countries to adapt to climate change.
06The EU's CBAM is not in line with the principles of international cooperation and equity in addressing climate change.
07The BRICS countries have called for a more equitable and cooperative approach to addressing climate change.

Trap alerts

Most people think the EU's CBAM is a voluntary measure, but actually it is a unilateral and punitive measure.
Most people think the BRICS countries are in favor of the EU's CBAM, but actually they have strongly opposed it.

Current-affairs link

The Paris Agreement, an international agreement to combat climate change, was adopted in 2015 and entered into force in 2016, which may be relevant to the topic of climate change and international cooperation.

Prelims Practice MCQs

Single facteasy

What is the name of the tax on carbon emissions imposed by the European Union?

A.Carbon Border Tax
B.European Union Tax
C.Green Tax
D.Climate Change Levy

The Carbon Border Tax is a tax on carbon emissions imposed by the European Union to address carbon leakage and promote a level playing field for industries.

Statement I & IIhard

Consider the following two statements: Statement-I: The European Union has introduced a Carbon Border Tax. Statement-II: The BRICS Environment Ministers have opposed the European Union's Carbon Border Tax because they are concerned about the impact on their countries' industries. Which one of the following is correct in respect of the above statements?

A.Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
B.Both Statement-I and Statement-II are correct but Statement-II is not the correct explanation for Statement-I
C.Statement-I is correct but Statement-II is incorrect
D.Statement-I is incorrect but Statement-II is correct

Statement 1 is correct because the fact list states that the European Union has introduced a Carbon Border Tax. Statement 2 is correct because the fact list states that the BRICS Environment Ministers have opposed the European Union's Carbon Border Tax, which implies that they are concerned about the impact on their countries' industries. Statement 2 explains why Statement 1 is true.

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