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

The European Union is considering new energy taxes to meet its climate targets, ...

HELSINKI - 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.

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up the world’s largest emissions trading system to price carbon and reduce reliance on more polluting fuels.They are “outdated and poorly adapted to climate change challenges and developments in energy policy at EU level,” according to a document which EU finance ministers will discuss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.

“We are in the process of finding out how we can limit CO2 consumption in agriculture, small businesses or transport,” Scholz said. Possible measures in a document prepared by the Finnish presidency of the EU included higher minimum tax rates on energy, fossil fuel levies and the end of waivers for the air and sea transport sectors.

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