Large Polluters Would Pay More in Revised Version of French Carbon Tax
Despite Franceâ€™s Constitutional Council rejecting a tax on carbon emissions because of too many exemptions for major industrial polluters, the nation plans to move forward with a new version of the tax later this year, reports the Wall Street Journal.
In late December, the council said the bill, backed by President Nicolas Sarkozy, threatened to make tax collection unfair, primarily raising the cost of fuel for vehicles and heating. The tax was set at 17 euros ($24) for each ton of carbon dioxide. In particular, the council opposed the ruling that 93 percent of industrial emissions, including the emissions of more than 1,000 of Franceâ€™s top polluting industrial sites, would be exempt from the tax.
The newest version of the carbon tax would take effect July 1, said the French government.
The new version would penalize large companies more. The rates would vary, but exemptions on electricity production would remain, according to WSJ.
Last year’s draft would have granted exemptions to 1,000 industrial sites, including oil refineries and cement plants. According to EU rules, such plants have to cut emissions 21 percent by 2020.
The French government had expected to take in about $5.9 billion in revenues from the previous version of the tax, according to AFP.
The new version of the carbon tax is expected to be presented to the French cabinet Jan. 20, reports Reuters.
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