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EU's carbon tax is unlikely to fix global warming. It will make global cooperation on climate change impossible
EU's carbon tax is unlikely to fix global warming. It will make global cooperation on climate change impossible

Indian Express

time3 days ago

  • Business
  • Indian Express

EU's carbon tax is unlikely to fix global warming. It will make global cooperation on climate change impossible

Written by Anil Trigunayat and Kaviraj Singh In a sharply worded and coordinated diplomatic pushback, the BRICS nations — Brazil, Russia, India, China and South Africa — have united to condemn the European Union's Carbon Border Adjustment Mechanism (CBAM). What the EU projects as an instrument of green accountability is interpreted by emerging economies as a decisive trade barrier — yet another effort to discriminate against developing countries. As climate diplomacy enters this new battleground, the carbon tax is quickly becoming a lightning rod for contesting developmental equity, green imperialism and global trade fairness. At its core, CBAM is a tariff on carbon-intensive imports into the European Union. As per the proposed directive, from 2026, non-EU producers of goods like steel, cement, aluminium, fertilisers, and electricity will have to pay for the emissions embedded in their exports, mirroring what EU companies already pay under the bloc's Emissions Trading System (ETS). The price of these certificates will reflect the weekly average auction price of EU ETS allowances, which has fluctuated between 60 and 90 euros per tonne of carbon dioxide in recent years. While the mechanism ostensibly aims to prevent 'carbon leakage', that is, the relocation of polluting industries to countries with lax climate rules, it effectively acts as a trade policy dressed in green robes. The BRICS nations, representing 41 per cent of the global population and nearly 40 per cent of the global economy (measured by Purchasing Power Parity, PPP), have responded with sharp criticism. They argue that CBAM unilaterally shifts the burden of decarbonisation onto developing economies, bypassing principles of equity, common but differentiated responsibilities (CBDR), and respective capabilities that underpin the Paris Agreement. These countries, already grappling with poverty, infrastructure gaps, and late-stage industrialisation, face the risk of being priced out of global markets under the guise of climate compliance. India, in particular, stands to lose significantly. According to a report by Grant Thornton Bharat, Indian steel exporters could face cumulative losses of over $551 million by 2034 due to CBAM. India exported over $3 billion worth of steel to the EU in FY2022-23, accounting for roughly 23.5 per cent of its steel exports. Aluminium and cement sectors are also vulnerable. For instance, India's aluminium industry emits roughly 20 tonnes of carbon dioxide per tonne of primary aluminium, compared to the EU average of 6.5–7 tonnes, leading to a price disadvantage under CBAM. Union minister Piyush Goyal has already stated that India 'will retaliate' under World Trade Organisation frameworks if its industry is unfairly targeted. The recent BRICS environment ministers' meet reinforced this discontent. Countries accused the EU of weaponising environmental standards to stymie industrial growth in the Global South, amounting to a form of 'carbon colonialism'. External Affairs Minister S Jaishankar, too, termed CBAM 'unacceptable', describing it as a coercive tool rather than a cooperative measure. At the heart of the pushback is a growing recognition that global climate action cannot be built on the ruins of developing economies' growth ambitions. BRICS countries argue that they were not the historical emitters of greenhouse gases — the West industrialised for over two centuries on the back of carbon-heavy growth. Now, when nations like India and Brazil attempt to expand their manufacturing base or energy production, they are penalised for doing so in a carbon-intensive manner, even as their per capita emissions remain a fraction of Western levels. Moreover, CBAM does not consider whether countries have carbon pricing mechanisms of their own. India, for instance, has implemented the Perform, Achieve and Trade (PAT) scheme, Renewable Energy Certificates (RECs), and various state-level carbon initiatives. These domestic efforts are not factored into CBAM's framework. Instead, a flat levy is imposed, undermining indigenous climate policy instruments and incentivising compliance with EU regulations rather than encouraging sovereign pathways to sustainability. India now faces a dual challenge. On the one hand, it must shield its exporters and protect its economic sovereignty. On the other, it must accelerate its green transition without allowing external pressure to dictate the pace or path. The government is reportedly considering countermeasures, from seeking redress at the WTO to exploring tit-for-tat tariffs on European imports. At the same time, India could turn this moment into an opportunity. By investing in low-carbon production processes such as green hydrogen in steelmaking, or waste heat recovery in cement, Indian exporters can gradually future-proof their industries. A 2024 CEEW study estimates that green hydrogen adoption in steel manufacturing could reduce carbon dioxide emissions by 60–70 per cent by 2040, making Indian steel CBAM-compliant in the long run. But these transformations require time, money, and technology transfers, not punitive taxation. What is urgently needed is a just transition architecture at the global level, one that blends climate ambition with financial and technological support for developing countries. Without this, measures like CBAM risk fracturing global climate cooperation. The Global North cannot preach emissions reduction while simultaneously blocking the Global South's access to global markets through climate tariffs. Indeed, the choice is not between climate action and development. It is about climate justice, where those with greater responsibility and capability shoulder a commensurate burden. CBAM, in its current form, violates that basic principle. The battle over CBAM is emblematic of a deeper faultline in the international order between those who have historically polluted and now seek to police, and those who are still climbing the development ladder but are being taxed for every rung. It revives the old North-South divide under a new guise. Europe may have crafted CBAM as a climate strategy, but if it wishes to play a credible leadership role in the green transition, it must also listen to voices from the Global South. Without inclusion, consultation, and equity, CBAM will not accelerate climate goals, it will merely fracture trust. For India and other BRICS nations, this is not just about trade or emissions; it is about sovereignty, justice, and the right to grow on their own terms. The carbon border tax, in its current form, is not a solution. It is a symptom of a world still unwilling to reconcile ambition with fairness. And until that changes, resistance will remain as firm as forged steel. India needs to work with the US and BRICS to build suitable negotiating leverage against such unilateral and unfair trade measures imposed by the EU. Trigunayat is a retired IFS Officer and a former ambassador. Singh is CEO and director, Earthood

Kusha Kapila slams Kaviraj Singh over misogynistic remarks on female influencers
Kusha Kapila slams Kaviraj Singh over misogynistic remarks on female influencers

India Today

time6 days ago

  • Entertainment
  • India Today

Kusha Kapila slams Kaviraj Singh over misogynistic remarks on female influencers

Actor and digital creator Kusha Kapila has strongly criticised stand-up comedian Kaviraj Singh after a video of his recently went viral, sparking widespread outrage. In the viral clip, Kaviraj made a deeply misogynistic comparison, equating female influencers to sex comedian made a remark by saying, "R****i is a profession, guys. Sex worker ko Hindi mein ri kehte hain. Halaanki saare log ri nahi kehte. Kai log influencer bhi kehte hain, (Sex workers are called ri in Hindi. Though not everyone uses that term - some people call them influencers too) (sic)" has ignited a heated online debate about sexism in comedy and digital the video here: Kusha Kapila expressed her disappointment and anger on Instagram Stories, writing, 'Is this disgusting? Yes. Am I shocked? No. The 'R' word is thrown like a casual insult on social media for women online. Now it's a literal premise for whatever joke the said comic wants to make. We've been through this too many times. Too many times. (sic)"She further called out the intentional harm behind such content, saying, 'See, the comic is aware of the consequences his words are going to have. He is saying this to get that exact reaction that he's been getting. Woh apna opinion nahi badlengey (They won't change their opinion). But the most heartbreaking thing is the massive support he is getting, the donations being made, the culture that he is encouraging with his words which is dangerous and pushes us back by decades. (sic)' Reflecting on her years in the digital industry, Kusha noted that such misogynistic attacks are a recurring pattern. 'It's the same story. In my seven years of creating content, I have seen this cycle repeat. Women artists kitna bhi rally karle aisi ghatiya soch ke against, yeh hota hi rehta hai (No matter how much women artists rally against such disgusting mindsets, this keeps happening) and the only thing we can continue doing IS TO CALL IT OUT. This is also lazy writing. Most comics and writers will tell you ki yeh ekdum lowest hanging fruit hai. Mujhe bas yeh soch kar darr lag raha hai jo log isko paise de rahein hai, woh real life mein auraton ke saath kaise bartav karte honey (I'm just scared thinking about how the people funding this must be treating women in real life) (sic),' she added. In a follow-up story, she warned of the real-world impact. She wrote, 'I also want people who are making content like this to know ki aise online behaviour offline badtameezi mein pakka manifest hota hai. Koi na koi aapka content dekh kar waise toxic behaviour offline karega. Aap to 'dark joke' maarkar nikal lengey, ek army of people empower ho jayegi ladkiyon ko gaali dene ke liye (This kind of online behaviour definitely manifests as misbehaviour in real life. Someone or the other will watch your content and act out that toxic behaviour offline. You'll move on, calling it a 'dark joke', but an entire army of people will feel empowered to abuse women). Do better yaar. Do better. It's 2025 ffs. (sic)"On the work front, Kusha Kapila was recently seen in 'Dehati Ladke', 'Ishq Vishk Rebound', and 'Thank You for Coming'.- EndsTrending Reel

Who is Kaviraj Singh? Internet wants 'Bill Burr of India' cancelled for sexist jokes, fans pay thousands to prevent that
Who is Kaviraj Singh? Internet wants 'Bill Burr of India' cancelled for sexist jokes, fans pay thousands to prevent that

Hindustan Times

time6 days ago

  • Entertainment
  • Hindustan Times

Who is Kaviraj Singh? Internet wants 'Bill Burr of India' cancelled for sexist jokes, fans pay thousands to prevent that

This past week, comedian and writer Kaviraj Singh found himself in the midst of a controversy regarding some of his old stand-up acts using profanity for women and allegedly sexist jokes. It began with content creator Aman Pandey calling him out on Instagram on Monday, and led to several female comics and even actor Swara Bhasker slamming Kaviraj in social media posts. But Kaviraj, who has been dubbed 'Bill Burr of India' by his followers, continues to get support not just from his fans but even from other comedians in the country. Stand-up comic Kaviraj Singh has been under fire for his recent jokes on women. Who is Kaviraj Singh? A comic, writer, and producer, Kaviraj Singh initially led content creation for popular platforms like The Viral Fever (TVF), Great Indian Laughter Challenge and Being Indian, before assuming his current role as the Channel Head of Pocket Change. He is also a stand-up comedian with several popular comedy specials. His videos routinely get millions of views on Instagram and YouTube. His most recent comedy special, 'Are women becoming men?', has 2.7 million views on YouTube. Shorts and Reels from the 41-minute video have widely been shared on Instagram and other social media platforms, with some criticising and others praising him. What is the controversy? Sharing a video of Kaviraj comparing influencers to sex workers in a derogatory manner, Aman Pandey wrote, "Stand up comedy in India has stooped to doing incel comments and avg uncle WhatsApp forwards on stage." The video showed Kaviraj use 'r***i', an offensive Hindi word for sex workers, as a punch line when talking about social media creators. Soon, social media users dug out other videos of the comedian where he compared women to buffalo while mocking feminism. In one video, he says women are meant to nurture as they are 'born with a food-making machine on their bodies'. Many online commented that the jokes were not just sexist and regressive, but disguised under the garb of dark humour. This led to widespread condemnation for Kaviraj, but elicited no response from the comic himself. Fans defend Kaviraj Singh The videos shared on his YouTube have fans of the comic defending him. Many even donated money and urged the comedian to 'keep up the good work'. One comment read: "PLEASE, DO NOT REMOVE THIS VIDEO AND THANKS FOR SPEAKING THE TRUTH. KUDOS." It was accompanied by a donation of ₹2000. Another wrote, "Thanks for speaking for men depressed for long time in relationship laughed and cried at same time bro. Keep rocking." Many paid in US dollars as well. As one fan summed up the sentiment: "Like someone said, it felt unfair to watch this and not have to pay. Great content!" Online, many have compared Kaviraj to Bill Burr, the American podcaster and comedian who has often been called out for his misogyny. Kaviraj's fans, however, wear this comparison as a badge of honour. Support, both verbal and monetary, is flowing in for Kaviraj Singh. Even several comedians and industry insiders have defended Kaviraj. Comicstaan Season 1 winner Nishant Suri released a video in his support and said, 'Comics are hypocrites. When the right-wing attacks comics, they come up with 'freedom of speech', but when a comic does it, they come up with calls for a ban.' Kaviraj Singh responds HT reached out to Kaviraj for a response over the furore, and the comedian stated he was not aware of who Aman Pandey is or what his video was till some of his acquaintances told him about it a few days ago. "I was never curious enough to check his posts personally. There are all kinds of reactions when an art piece comes out," said Kaviraj. "About the joke and the usage of the word 'r***i', I think stand-up comedy is more like a horror/suspense movie where you set up the premise, and it's better if the reveal (the punchline) comes with a 'shock'. I wanted to point out the practice where a large segment of female influencers showcase their bodies for likes on Instagram. It was looked down upon in the past; now it's praised. The joke is on the CULTURE SHIFT, not on either of the professions. I'm indifferent to what a woman/man does to survive as far as it's legal," he added. When asked to respond to those calling his jokes sexist, the comedian said, "People have said my jokes are sexist, maybe they are for them, but for me, they aren't. I did not write anything to bring anybody down; my sole intention was to make it funny, which it is. People react differently when a joke is on them than when it is on someone else. When I wrote the joke 'Kamaao B*dk', I was flooded with female praise since the target of the joke was men; now the target of the jokes are women, and I am talking to a journalist." Kaviraj added that he had pushed boundaries with his jokes earlier, too, and received criticism from various quarters. "I received backlash from men when I wrote 'Kamaao b*dk', they called me a simp, a male feminist and what not. My second video made fun of the spiritual guru business in India. I was attacked for that. In the third video, I made a couple of jokes on religious extremism in politics, and received a lot of hatred then. And this time it was this, 'Women'," he told us, adding, "It's worth a mention that I also got a lot of praise from women too for this set, many have kindly messaged me during the last few days, wishing me well and to stay strong." The comedian said that the increased scrutiny on comedy in the last few years has also led to more criticism of stand-up acts. The opening slate of Kaviraj's latest comedy special states 'these are just jokes'. But there is also an argument that comedians, too, have certain responsibilities in the public sphere. Kaviraj agrees with both. "I do stand by the fact that, at the end of the day, these are just jokes, written with the sole intention of making people laugh. And I think that is, or at least should be, the primary responsibility of a comedian, to make people laugh. Also, there are things like, the timing of the joke, social context, sensitivity index of the audience etc., which a comic needs to keep in mind while delivering the material, but in case he/she misses, the audience should just ignore the joke and it will die out on its own, the artist will alter his style since nobody wants to write a joke that has no audience. But if it's finding its audience, and still not funny particularly to you, then maybe it's not for you. Let the audience decide," he said.

Kusha Kapila SLAMS Comic Kaviraj Singh For Calling Influencers ‘R***I': 'Not Shocked But Heartbroken'
Kusha Kapila SLAMS Comic Kaviraj Singh For Calling Influencers ‘R***I': 'Not Shocked But Heartbroken'

News18

time6 days ago

  • Entertainment
  • News18

Kusha Kapila SLAMS Comic Kaviraj Singh For Calling Influencers ‘R***I': 'Not Shocked But Heartbroken'

Kusha Kapila slams stand-up comedian Kaviraj Singh for a viral video in which he equated women influencers to s*x workers. Actor and digital creator Kusha Kapila has strongly condemned stand-up comedian Kaviraj Singh for making deeply misogynistic comments targeting female influencers during one of his recent shows. The outrage stems from a viral video where Kaviraj equates women influencers to sex workers — a comparison that many are calling not just offensive, but dangerous. In the now-viral clip from his set, Kaviraj says, 'R***i is a profession, guys. Sex worker ko Hindi mein ri kehte hain. Halaanki saare log ri nahi kehte. Kai log influencer bhi kehte hain." While the live audience burst into laughter, social media users responded with fury. Many accused the comedian of hiding behind the guise of 'dark humour" to propagate casual sexism and hate. Taking to Instagram stories, Kusha Kapila minced no words in her response, 'Is this disgusting? Yes. Am I shocked? No. The 'R' word is thrown like a casual insult on social media for women online. Now it's a literal premise for whatever joke the said comic wants to make. We've been through this too many times. Too many times." She further added that such remarks aren't made in ignorance but with calculated intent, 'See, the comic is aware of the consequences his words are going to have. He is saying this to get that exact reaction that he's been getting. Woh apna opinion nahi badlengey. But the most heartbreaking thing is the massive support he is getting, the donations being made, the culture that he is encouraging with his words which is dangerous and pushes us back by decades." View this post on Instagram A post shared by Aman Pandey (@ghalibankabir) Reflecting on her years in the digital space, Kusha pointed out how the same pattern of targeted attacks on women continues to repeat, 'It's the same story. In my seven years of creating content, I have seen this cycle repeat. Women artists kitna bhi rally karle aisi ghatiya soch ke against, yeh hota hi rehta hai and the only thing we can continue doing IS TO CALL IT OUT. This is also lazy writing. Most comics and writers will tell you ki yeh ekdum lowest hanging fruit hai. Mujhe bas yeh soch kar darr lag raha hai jo log isko paise de rahein hai, woh real life mein auraton ke saath kaise bartav karte hongey?" She didn't stop there. In another story, Kusha addressed the real-world impact such content can have, 'I also want people who are making content like this to know ki aise online behaviour offline badtameezi mein pakka manifest hota hai. Koi na koi aapka content dekh kar waise toxic behaviour offline karega. Aap to 'dark joke' maarkar nikal lengey, ek army of people empower ho jayegi ladkiyon ko gaali dene ke liye. Do better yaar. Do better. It's 2025 ffs." As the clip continues to circulate, more influencers — including Uorfi Javed — have spoken out against Kaviraj Singh's comments, calling them 'hateful" and 'disrespectful." The comedian has since turned off comments on his Instagram posts, amid mounting criticism. First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Upcoming IPO! Earthood Services refiles draft papers with Sebi; detail
Upcoming IPO! Earthood Services refiles draft papers with Sebi; detail

Business Standard

time16-06-2025

  • Business
  • Business Standard

Upcoming IPO! Earthood Services refiles draft papers with Sebi; detail

Upcoming IPO: Gurgaon-based services company, Earthood Services, is moving closer to its plan of going public as the company has refiled its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), to raise funds through an Initial Public Offering (IPO). Earthood Services had initially filed its draft papers with Sebi on December 27, 2024. Earthood Services IPO details The proposed public offering comprises entirely an offer for sale (OFS), with promoters divesting up to 6.29 million equity shares, with a face value of ₹10. The OFS consists of shareholders selling up to 4.290 million equity shares by Kaviraj Singh and up to 2 million equity shares by Ashok Kumar Gautam. 'The offer also includes a subscription reservation for eligible employees, and a discount is being offered to eligible employees bidding in the employee reservation portion,' said the company. The Offer is being made through the book-building process, wherein not less than 75 per cent of the net offer is allocated to qualified institutional buyers, and not more than 15 per cent and 10 per cent of the net offer is assigned to non-institutional and retail individual bidders, respectively. MUFG Intime India (erstwhile Link Intime India) is the registrar of the issue, while Unistone Capital Private Limited is the sole book-running lead manager. About Earthood Services Established in 2012, Earthood Services specialises in providing Environmental, Social, and Governance (ESG) advisory and assurance services to clients in India and internationally. Its offerings include lifecycle assessment, sustainability consulting, climate risk assessment, and detailed ESG roadmaps, catering to the growing global demand for reliable and verified ESG solutions. The company's global footprint spans offices in India, the United Kingdom (UK), Russia, Turkey, and the United Arab Emirates (UAE). Over the last three fiscal years, Earthood has served more than 400 clients across 132 countries, demonstrating steady growth from 89 countries as of March 2022 to 100 in March 2023, and further to 132 by December 2024. Earthood Services financial snapshot The company's revenue from operations increased by 44.46 per cent to ₹46.79 crore in FY24 from ₹32.39 crore in FY23, primarily driven by an increase in sales of carbon verification and validation services. Additionally, ESG assurance and advisory services contributed to the growth. The number of projects undertaken rose to 219 in FY24 from 169 in FY23. Profit after tax (PAT) increased by 80.11 per cent to ₹19.34 crore in FY24 from ₹10.73 crore in FY23. For the nine months ended December 31, 2024, revenue from operations stood at ₹33.67 crore, and profit after tax stood at ₹8.14 crore.

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