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Tax Deployed as Europe’s Biggest Weapon to Halt Climate Change

March 4, 2020, 12:31 PM

The region with the highest taxes in the world is weighing how to use them in the fight against climate change.

The European Union’s executive arm began work on revising the way it puts levies on fuel and electricity. It’s also looking at a far more controversial plan that would hit imports from polluters outside the bloc with a tax on their carbon footprint.

The measures are aimed at making sure global competition doesn’t undercut its companies that are focused on shifting away from fossil fuels toward a low-emissions business model.

“Taxation will have an essential role to play ...

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