European Union unveils tough climate proposal, including new taxes on foreign firms

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The European Union unveiled sweeping new legislation to help meet its pledge to cut emissions of the gases that cause global warming by 55% over this decade, including a controversial plan to tax foreign companies for the pollution they cause.

The record-breaking heat baking the West Coast is another painful sign that climate change is here, and we have to adapt.that incentivizes consumers, producers and innovators to choose the clean technologies, to go toward the clean and sustainable products,” European Commission President Ursula von der Leyen said.

European Commission Executive Vice President Frans Timmermans said that by failing to act now, “we would fail our children and grandchildren, who in my view, if we don’t fix this, will be fighting wars over water and food.” Echoing the thoughts of some climate scientists, Oxfam EU head Evelien van Roemburg urged member countries and lawmakers to be more ambitious than the European Commission.

The question is how the EU — known for its staunch defense of open trade — will ensure that the carbon tax complies with World Trade Organization rules and not be considered a protectionist measure.

 

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