EU's Carbon Border Adjustment Mechanism (CBAM) Takes Full Effect, Phasing Out Free Allowances from 2026 to 2034

EU CBAM: Carbon Border Tax on Steel Imports to Cost India €190/Tonne from Feb 2027

The EU has implemented the Carbon Border Adjustment Mechanism (CBAM), a carbon tax on imports of steel, aluminium, cement, fertilisers, hydrogen, and electricity. For India, this is primarily a steel tax—$5.4 billion of its $6.3 billion CBAM-exposed exports to the EU in 2024 were iron and steel. With Indian steel emitting 2.54 tonnes of CO2 per tonne (vs. world avg. 1.9), the tax could cut exports by 24%, and BRICS has formally opposed it as protectionist in the New Delhi Declaration.

IMF: Global Economy Weathered Strait of Hormuz Oil Shock via AI Investment Boom, Reserves Drawdown

IMF MD Kristalina Georgieva states the global economy has weathered the oil shock from the Strait of Hormuz closure 'better than feared' due to strategic reserve drawdowns and an AI-driven investment boom. However, risks remain tilted to the downside with rising bond yields, stalled disinflation, and the threat of renewed energy price spikes as winter approaches.

Graham Bill Targets India for Russian Oil, US Fed Hikes by 25 bps, Himalayan Monal Alters Calls: UPSC Daily

The Indian Express UPSC Key for September 19, 2026, covers a wide range of high-yield topics: the Graham Bill authorising 100% tariffs on Russian oil buyers (including India), US Federal Reserve rate hike of 25 basis points, a Himalayan monal study showing call frequency change due to human noise, India-China thaw at BRICS, Tata Sons boardroom battle, stubble burning red entry rules, new CBFC guidelines with drug warnings, and India's first mainstream PHEV. Each segment directly aligns with UPSC Prelims/Mains syllabus.

India's National Critical Mineral Mission Targets 1200 Exploration Projects, 50 Overseas Assets by 2030-31

Critical minerals like lithium, cobalt, rare earths are essential for EVs, solar, defense, and semiconductors. India's National Critical Mineral Mission aims to reduce import dependence by boosting domestic exploration (1200 projects by 2030-31) and acquiring 50 overseas mining assets, as global supply chains remain heavily concentrated in China.

Quad, G7 Launch Critical Minerals Initiative; India's NCMM Seeds ₹500 Cr Stockpile

As the world races towards green energy, securing supply chains for critical minerals like lithium, cobalt, and rare earths has become a geopolitical priority. The article explains why India must shift from stockpiling raw ores to processed minerals, and advocates for a multilateral stockpiling platform with dynamic price bands to avoid market shocks.

UK Recognises India's Carbon Credit Trading Scheme (CCTS) Under CBAM for Carbon Price Relief

The UK has officially recognised India's Carbon Credit Trading Scheme (CCTS) as a qualifying carbon pricing mechanism under its Carbon Border Adjustment Mechanism (CBAM). This allows UK importers of eligible Indian goods to claim carbon price relief, reducing the tax burden on Indian exporters and avoiding double taxation.

World Bank Report: Extreme Heat Costs South Asia 31 Million Jobs, 7% GDP by 2050

World Bank report warns extreme heat costs South Asia 31 million jobs annually and threatens 7% GDP loss by 2050. It urges governments to treat heat as a core development challenge, not a seasonal emergency. Essential for UPSC: climate-economy linkages, urban resilience, and vulnerable worker protection.

India's RE Capacity Crosses 200 GW, Solar & Green Hydrogen Lead Clean Energy Transition

India's renewable energy capacity crossed 200 GW (45% of total installed capacity), driven by solar and wind. Key schemes like PM Surya Ghar, PM-KUSUM, National Green Hydrogen Mission, and International Solar Alliance highlight India's climate leadership. This is exam-relevant for prelims data and mains analysis on energy transition, government schemes, and India's climate commitments.