Skip to content
Subscriber Only
Markets
Climate changed

Here's How Trump's Paris Plan May Hurt the EU Carbon Market

  • Europe seen protecting its industry from outside competition
  • Market may remain largely a ‘box ticking’ exercise: Redshaw
Video player cover image

What the U.S. Departure Means for the Paris Agreement

Updated on
From

President Donald Trump’s plan to exit the Paris climate accord is seen curbing the willingness of European Union lawmakers to tackle low carbon prices.

Europe will probably need to focus on protecting its industry from economic costs the U.S. now won’t bother with, said Andrei Marcu, a senior fellow at the International Centre for Trade and Sustainable Development in Geneva, which promotes environmental trade policy. That will limit their readiness to push for higher prices needed to cut greenhouse gas emissions at a faster pace to meet targets in the pact, he said.