{"id":31970,"date":"2025-04-13T03:12:54","date_gmt":"2025-04-12T21:42:54","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=31970"},"modified":"2025-04-16T18:12:34","modified_gmt":"2025-04-16T12:42:34","slug":"carbon-tax","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/carbon-tax\/","title":{"rendered":"Carbon Tax"},"content":{"rendered":"<h2>Carbon Tax Latest News<\/h2>\n<p>Recently, India, along with 62 other countries, voted in favour of the first global carbon tax on the shipping industry, adopted by the International Maritime Organisation (IMO) in London.<\/p>\n<h2>About Carbon Tax<\/h2>\n<ul>\n<li>A <strong>Carbon Tax<\/strong> is an <strong>environmental tax<\/strong> levied on the <strong>carbon content of fossil fuels<\/strong> such as <strong>coal, oil, and natural gas<\/strong>.<\/li>\n<li>The objective is to <strong>reduce greenhouse gas emissions<\/strong> by creating a <strong>financial disincentive for pollution<\/strong> and encouraging <strong>clean energy alternatives<\/strong>.<\/li>\n<li>It is calculated based on the <strong>amount of CO\u2082 or other GHGs emitted<\/strong> and promotes a <strong>market-based climate solution<\/strong>.<\/li>\n<\/ul>\n<h3>Types of Carbon Tax<\/h3>\n<ul>\n<li><strong>Emissions tax: <\/strong>Tax on <strong>total GHG emissions<\/strong>, based on the <strong>carbon content of fuels used<\/strong>.<\/li>\n<li><strong>Energy tax: <\/strong>Levied on <strong>fossil fuel consumption<\/strong>, calculated from <strong>carbon or energy usage<\/strong>.<\/li>\n<li><strong>Cap-and-Trade System: <\/strong>Sets a cap on emissions; <strong>permits traded<\/strong> in a carbon market to incentivise reduction.<\/li>\n<li><strong>Border tax adjustment: <\/strong>Applies carbon tax on <strong>imported goods<\/strong> based on emissions during production to <strong>prevent carbon leakage<\/strong>.<\/li>\n<\/ul>\n<h3>Carbon Tax in India<\/h3>\n<ul>\n<li>India currently <strong>does not have a nationwide carbon tax<\/strong>, but there have been <strong>proposals<\/strong> to introduce one.<\/li>\n<li>In <strong>2015<\/strong>, India proposed a carbon tax of <strong>INR 50 per metric ton<\/strong> on <strong>coal production\/import<\/strong>, but it remains <strong>unimplemented<\/strong>.<\/li>\n<li>Some states, like <strong>Tamil Nadu<\/strong>, have introduced <strong>state-level carbon levies<\/strong>, particularly on coal used in electricity generation.<\/li>\n<li>India promotes clean energy and emission reductions through initiatives like the following:\n<ul>\n<li>National Clean Energy Fund<\/li>\n<li>National Solar Mission<\/li>\n<li>Energy Conservation Building Code (ECBC)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>About the International Maritime Organisation (IMO)<\/h2>\n<ul>\n<li>The <strong>IMO<\/strong> is a <strong>United Nations specialised agency<\/strong> responsible for the <strong>safety, security, and environmental performance<\/strong> of <strong>international shipping<\/strong>.<\/li>\n<li>It contributes to <strong>SDG 14<\/strong>: <strong>Conserve and sustainably use oceans, seas, and marine resources<\/strong>.<\/li>\n<li>While the IMO <strong>sets global maritime rules<\/strong>, their <strong>enforcement depends on member states<\/strong> converting them into <strong>national laws<\/strong>.<\/li>\n<li>The IMO also deals with <strong>legal matters<\/strong> like <strong>liability, compensation<\/strong>, and <strong>maritime traffic facilitation<\/strong>.<\/li>\n<\/ul>\n<h3>IMO \u2013 Quick Facts<\/h3>\n<ul>\n<li><strong>Established: <\/strong>Founded in <strong>1948<\/strong> as IMCO; became a <strong>UN specialised agency in 1959<\/strong>; renamed <strong>IMO in 1982.<\/strong><\/li>\n<li><strong>Members: 174 Member States.<\/strong><\/li>\n<li><strong>Headquarters: London, United Kingdom.<\/strong><\/li>\n<li><strong>Main bodies: Assembly<\/strong> (highest body), <strong>Council<\/strong> (executive), <strong>Five Committees<\/strong> (policy-making).<\/li>\n<li><strong>Funding: <\/strong>Funded by <strong>member contributions<\/strong>, <strong>voluntary donations<\/strong>, and <strong>commercial income.<\/strong><\/li>\n<\/ul>\n<h2>Carbon Tax FAQs<\/h2>\n<p><strong>Q1:<\/strong> What is a carbon tax?<br \/>\n<strong>Ans:<\/strong> A levy imposed on fossil fuel emissions to incentivize reduction of greenhouse gases by making polluters pay for environmental damage.<\/p>\n<p><strong>Q2:<\/strong> How does it work in India?<br \/>\n<strong>Ans:<\/strong> India uses an implicit carbon tax via fuel excise duties (e.g., \u20b918\/liter on petrol) but lacks a direct nationwide carbon tax framework.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/india-votes-in-favour-of-first-global-carbon-tax-on-shipping\/article69443058.ece\" target=\"_blank\" rel=\"nofollow noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Carbon Tax is an environmental tax levied on the carbon content of fossil fuels such as coal, oil, and natural gas.<\/p>\n","protected":false},"author":5,"featured_media":31971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-31970","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=31970"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31970\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/31971"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=31970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=31970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=31970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}