IISD Commentary - Sustainable development cools off: Globalization demands summit take new approach to meeting ecological, social goals
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New year, new carbon tax to address Europe pollution
At the start of the new year, the world's first carbon tariff will take effect. The EU's Carbon Border Adjustment Mechanism will charge fees on certain imported products—and those fees will be based on the emissions tied to the manufacturing of those products. IISD Senior Associate Aaron Cosbey talks about how the tariff is supposed to work, and what other countries will be watching.
India's Clean Energy Subsidies Jump 31%, But State Firms Fund Fossils
India increased its clean energy subsidies by 31% to nearly Rs 32,000 crore in the 2023-24 financial year, marking the sharpest rise in recent years. At the same time, fossil fuel subsidies dropped by 12%, narrowing the gap between the two types of support to its smallest margin in 5 years. Despite this progress, government backing for fossil fuels still stands at roughly five times the level of clean energy spending, according to a recent IISD report.