EU weighs new energy taxes as Germany calls for 'drastic' steps

EU weighs new energy taxes as Germany calls for
# 13 September 2019 10:53 (UTC +04:00)

The European Union is considering new energy taxes to meet its climate targets, top officials said on Friday, with Germany calling for “drastic steps” to reduce carbon emissions, APA reports citing Reuters.

In the last decade, EU countries have led the global shift toward renewable energy and set up the world’s largest emissions trading system to price carbon and reduce reliance on more polluting fuels.

However, the bloc’s rules on energy taxation have not changed for more than 15 years.

They are “outdated and poorly adapted to climate change challenges and developments in energy policy at EU level,” according to a document which EU finance ministers will discuss at meetings in Helsinki on Friday and Saturday.

Arriving at the meeting, German finance minister Olaf Scholz said “drastic steps” were needed to counter climate change and urged an international approach on the matter.

“We are in the process of finding out how we can limit CO2 consumption in agriculture, small businesses or transport,” Scholz said.

The bloc’s top economic commissioner Valdis Dombrovskis told reporters that options included a carbon tax and an overhaul of energy taxation.