BRICS Environment Ministers Condemn EU Carbon Tax
· World · The Hindu
BRICS environment ministers meeting in New Delhi on August 18, 2026, jointly opposed the European Union’s Carbon Border Adjustment Mechanisms, describing the rules as unilateral, punitive, discriminatory, and protectionist. The officials warned that such carbon border measures could undermine developing countries' efforts to address climate change and build economic resilience. The joint statement also called for a significant increase in international funding to help developing nations adapt to climate impacts. The European Union's CBAM entered its definitive phase on January 1, requiring importers of carbon-intensive products like iron, steel, aluminium, cement, fertilisers, hydrogen, and electricity to account for production-related carbon emissions. India remains particularly exposed to the mechanism due to its high volume of iron and steel exports to European markets.
Why it matters
The European Union's carbon tax directly impacts Indian exporters of iron and steel, which account for the vast majority of shipments to the bloc falling under the CBAM framework.
Read the original report — The Hindu
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