The EU’s push to lead the world in fighting climate change is hitting a major roadblock as businesses and consumers raise concerns about higher energy costs.
At least 19 countries in the 27-nation alliance have voiced worries about potential price increases from a planned new carbon market that would limit greenhouse gas emissions from motor vehicles and building heating.
“They have articulated valid concerns about price increase and what it could mean … for our citizens’ finances,” Wopke Hoekstra, European commissioner for climate, net zero and clean growth, said at a recent news conference.
EU officials are developing a proposal that would make the initial years of the program less costly to businesses and consumers but which could increase costs in later years.
