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    FRANK LEO & ASSOCIATES

    #1 RE/MAX TEAM IN TORONTO & THE GTA**
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    EU Forcing Strict Climate Rules, Increased Taxes on Foreign Businesses

    In order to cut emissions of gases contributing to global warming by 55 per cent, the European Union revealed new legislation. This will include taxing foreign companies for the pollution they add to the environment. The proposal will require the phasing out of gasoline and diesel cars by 3035 and setting new limits on gases from heating buildings. Companies will also start paying for the carbon dioxide they release and taxes on aviation or shipping fuels. 

    Six years ago, world leaders came together in Paris and agreed to keep global warming increase to below 2 degrees Celcius. Also, by the end of the century, the world should heat up no more than 1.5 degrees Celcius. Many scientists believe that these goals will be difficult to achieve, so drastic measures must be taken now to start cutting greenhouse gas emissions.

    The European Commission President Ursula von der Leyen said, “The principle is simple: emission of CO2 must have a price: a price on CO2 that incentivizes consumers, producers and innovators to choose the clean technologies, to go toward clean and sustainable products.”

    For more information about the source click HERE