Thursday, September 10, 2009

France to Levy CO2 Tax

The Wall Street Journal reports that France will start taxing the carbon dioxide emissions of both households and companies starting next year. French President Nicolas Sarkozy said Thursday that his government will levy a tax of €17 ($24.81) for each ton of CO2 emitted by fossil fuels such as heating oil, gasoline, coal, and natural gas.

The article reports that the French government "has pledged to divide its CO2 emissions by four in 2050 from the level of 1990." The government wants to show that it is following through on its environmental promises prior to a United Nations climate change conference in Copenhagen in December.

President Sarkozy said households will be levied 17 euros per ton of CO2 emissions because he did not believe they would be willing to pay significantly higher taxes on CO2 emissions than industrial corporations, which trade CO2 emissions certificates at about 15 euros via the EU's emission trading system.

For more resources on climate change data and greenhouse-gas policies, see our guide.

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