EU unveils tough climate rules, eyes tax on foreign firms

The European Union is proposing new legislation to help meet its pledge to cut emissions of the gases that cause global warming by 55% by 2030

BRUSSELS -- The European Union on Wednesday unveiled sweeping new legislation to help meet its pledge to cut emissions of the gases that cause global warming by 55% over this decade, including a controversial plan to tax foreign companies for the pollution they cause. The proposals by the EU's executive branch, the European Commission, range from the de-facto phasing out of gasoline and diesel cars by 2035 to new national limits on gases from heating buildings. They will involve a revamp of the bloc’s emissions trading scheme under which companies pay for carbon dioxide they emit and introduce taxes on shipping and aviation fuels for the first time. The new legislation will involve around a dozen major proposals — most of them building on laws already in place to meet the EU’s old goal of a 40% cut in gas emissions by 2030, compared to 1990 levels — and must be endorsed by the 27 member countries and EU lawmakers.