EU Vows to Shield Households From CO2 Market-Linked Price Hike

摘要

The European Union’s climate chief pledged measures to protect the most vulnerable households during the transition to a cleaner economy, seeking to allay concerns about a potentialexpansion of the bloc’s carbon market into transport and heating.The European Commission, the EU’s regulatory arm, is considering a proposal to apply emissions trading to those two sectors as part of a broader package to meet stricter climatetargets for 2030. Member states, businesses and consumer associations have voiced concerns that such a move would raise fuel prices.“If we do take this step, and if households face growing costs as a result, we will ensure that the social mechanism, a climate action social fund, is in place that can compensate for anypossible adverse effect, especially for our most vulnerable citizens.,” said Commission Executive Vice President and climate chief Frans Timmermans. He was speaking at a session of theEuropean Economic and Social Committee.