Carbon taxes and cross-border trade: greening trade with taxes? 2023 | International Bar Association (IBA) | 7 September 2023 | Online

As the world becomes warmer, countries are taking trade measures to putatively curb carbon emissions. The European Union, as part of its environmental, social, governance (ESG) drive, is actively taking steps to levy carbon taxes on the import of goods from countries with lower emission standards. Such measures will impact energy intensive industries including steel, aluminum, chemicals and fertilizers, as well as potentially aviation, automobile and many others going forward. These policy responses have also increased focus on the development of markets for trading in carbon credits. Developing countries such as India, which have hitherto lacked a dedicated market for trading in carbon credits, will now have to develop a robust framework for the same.

While a debate has ensued concerning the compatibility of such measures with the World Trade Organization’s rules, little attention has been paid to the important implications arising under other fields such as direct and indirect taxation, investment policy and accounting treatment. Such issues also assume relevance if steps are taken towards integration of carbon credit markets across different geographies. With the objective of shedding light on legal and taxation issues arising out of the interface between carbon credits and carbon taxes, this webinar brings together experts to provide perspectives from various angles relevant for stakeholders in India and the EU.

2023 Speakers

MODERATOR:

Charanya Lakshmikumaran
Partner, Lakshmikumaran and Sridharan

SPEAKERS:

Yves Melin
Partner, International Trade and Customs, Reed Smith LLP

Akhil Prasad
Board Member, Group General Counsel, Company Secretary, Boeing India

Indranil Chatterjee
Vice President Strategy, Indian Energy Exchange (IEX)