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October 9, 2023

Editor’s note: UK transition disclosure rules and India’s retaliatory tariffs

Big Ben and UK parliament
The TPT’s framework aims to help companies facing imminent transition disclosure rules from authorities including the UK government (Photo: Chalabala/Envato)

The latest edition of our Sustainable Views newsletter

Dear reader,

In today’s breaking ESG news, the UK Transition Plan Taskforce has launched its new disclosure framework. Applying the principles of “ambition, action and accountability”, the framework aims to help companies facing imminent transition disclosure rules from authorities including the government and the Financial Conduct Authority. We’ll have more on that on our site shortly.

There’s plenty to get your teeth into in the meantime. Claudia has learnt from experts that the Indian government is weighing up retaliatory tariffs on EU imports. Talks about an Indian domestic carbon border adjustment mechanism and a domestic carbon tax have been reported in the local press

The EU’s CBAM could seriously disrupt India’s metal exports to the bloc, with 27 per cent of the nation’s iron, steel and aluminium exports having gone to the EU last year, according to estimates. You can read more here.

Elsewhere, the European solar industry’s trade body, SolarPower Europe, is demanding an industrial strategy from the EU to supercharge solar manufacturing investment in the bloc, instead of imposing tariffs on Chinese imports. 

A “perfect storm” is hammering Europe’s solar photovoltaic market, according to the body, with the market having experienced falls in the prices of solar modules and other parts over recent years. You can read our sister title fDi’s piece here.

We also recommend reading the International Energy Agency’s new hydrogen report, which claims that governments’ targets for clean hydrogen consumption do not match those set for its production. You can find that report, and our summary, here.

Finally, we must acknowledge the ongoing attack on Israel by Hamas, which has seen more than 700 Israeli civilians and troops killed since the invasion began on Saturday, according to the FT. At least 100 people have been abducted.

While by no means the most important feature of the attack, markets have reacted. Crude prices peaked at $89 a barrel today in response to fears over oil supply. Although Israel itself is not an oil producer, the FT notes that the conflict could prompt harsher sanctions on Iranian oil, after Iran reportedly gave Hamas’s incursion its backing as an act of self-defence.

Our thoughts are with those affected by the conflict. 

Until tomorrow,

Alex

Alex Janiaud is senior investment correspondent at Sustainable Views

 

A service from the Financial Times