Fair and just environmental transition, the EU should pass on part of the carbon price for cars and homes to fuel suppliers
Sofie Defour, climate manager at T&E, said: “Ordinary people are not causing the largest chunk of emissions, yet they are being asked to pay. Oil majors make billions in profit each year. They cause environmental disasters of immeasurable scale whilst paying almost no taxes. It is high time for oil majors to pay their fair share and absorb part of the EU’s carbon price.”
The legal analysis commissioned by T&E considers whether fuel suppliers can indeed be required to absorb part of the ETS2 cost, rather than passing it on entirely to EU citizens. The analysis finds several promising pathways, including one that would limit the amount that fuel suppliers can pass on to consumers.
“If the climate transition has any hope of working, we need to make sure the big polluters, not the small households, pay the costs. It’s important to set a clear limit of how much consumers ought to pay for their carbon, and see that the rest is covered by the giants. What will constitute peanuts for the oil majors could help vulnerable households to transition to clean transport and heating,” explained Sofie Defour.
This most recent study shows that there is room for policymakers to improve the European Commission’s Fit for 55 proposal, and include the recommendations of the legal analysis into the scope of the ETS2.Carbon pricing must be used to complement other climate regulations, such as car CO2 standards, for the bloc to meet its climate targets. While car CO2 standards have ensured carmakers ramped up electric cars, the ETS’s CO2 price will help to further reduce demand for fossil fuels and cars.
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