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European Energy Crisis Fuels Carbon Trading Expansion Concerns

  • France, Cyprus among those skeptical about EU’s plans
  • EU wants to create a new ETS for heating and road transport
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Several European Union member states expressed deep reservations about the bloc’s plans to expand carbon trading, fearful that it might boost energy costs for consumers.

During the first official debate on the EU’s landmark climate proposals unveiled in July, environment ministers from France, Cyprus, Romania, Malta and Slovakia were among those casting doubts on proposals to create a new Emissions Trading System for heating and road transport. Hungary’s representative said the new ETS would cause “serious damage,” even with a 72 billion-euro ($83 billion) social climate fund cushioning the impact on the most vulnerable.