EU Pledges Stronger Cost-Curbing Measures for New CO2 Market

The European Union will propose stronger measures to curb emissions costs in a new and controversial carbon market to help address concerns that consumers will struggle to afford to heat homes and fill up cars.

An emissions-trading scheme to cover buildings and road transport is due to kick in in 2027, but has been criticized by many member states over concerns that prices will rise sharply once it’s introduced. EU climate chief Wopke Hoekstra will announce the measures limiting those increases at a meeting of climate ministers on Tuesday, Commission President Ursula von der Leyen said in a letter to leaders.