Finance
France Pushes Back on EU Proposal for New Carbon Market
- Several EU nations worried about idea at ministerial meeting
- New carbon market is key part of plan to meet climate targets
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France is pushing back against the European Union’s proposal to launch a new carbon market for heating and road transport, a move that worries some other EU nations and that’s quickly becoming the most controversial part of a new climate plan.
Days after the EU’s ambitious plan to tackle climate change was announced, France began lobbying behind the scenes to water down or delay the new carbon market, a central plank of the bloc’s proposal, people familiar with the matter said. Several countries, including the Netherlands and Hungary, are also concerned about its social impact, according to EU diplomats with knowledge of the talks.