News

EU to make fossil fuel industry pay for climate damage

Share
Copied!

Published: March 5th, 2024,
Last updated: May 28th, 2025

Wopke Hoekstra wants to campaign for international taxes on fossil fuels in climate negotiations.

The countries of the European Union want to urge the fossil fuel industry to contribute to the costs of climate change in poorer countries. This emerges from a draft document reported by the Reuters news agency. At this year’s UN climate negotiations in November in Baku, Azerbaijan, countries must agree on a new climate financing goal. This will determine how much wealthy industrialized countries will pay to poorer countries to adapt to a warmer planet.

Sign up now and continue reading immediately

No credit card details required. No automatic renewal.

Share
Copied!
COP29