Environment & Ecology · Environment

With reference to carbon pricing and international trade mechanisms, consider the following statements: I. The UK's proposed Carbon Border Adjustment Mechanism (CBAM) will apply only to fossil fuel-based products and exclude exports from least developed countries. II. India currently lacks a uniform carbon pricing mechanism and instead relies on indirect methods such as fuel taxes and renewable purchase obligations. III. A key challenge in implementing carbon taxes in India is the fragmented responsibility between the Centre and States over sectors like power and transport. IV. The IMF has proposed a global carbon price floor that includes differential pricing for high-income and low-income countries. How many of the above statements are correct?