CO2 QUOTE Closing from Cierre del 12-06-2024 68,95 €/T

Germany must help other EU countries prepare for the social impacts of the newCO2 price

Social funds at the European level will not provide enough public money to manage these social imbalances, according to Dirk Messner, president of the Federal Environment Agency.

The German government should use its national experiences to help EU neighbours prepare for the impact of the upcoming second emissions trading system on transport and heating fuel prices, said Dirk Messner, president of the Federal Environment Agency (UBA). As a key instrument for climate action, the European Union decided to introduce the Emissions Trading System II (EU ETS II) for the transport and building sectors along with its successful system for energy and industry. It is due to come into force in 2027, at which point the price of CO₂ could lead to significantly higher costs for fuels such as petrol or heating oil across the EU, particularly affecting low-income households.

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