The social climate fund, the Brussels tool to prevent a yellow vests crisis in Europe

The immense European efforts to lower greenhouse gas emissions by 55% in 2030, and achieve neutrality in 2050, will affect manufacturers, but also citizens. Because the Commission proposal, presented on July 14, submits two new sectors to a carbon market: road transport and heating of buildings.

While this will motivate the development of new offers that consume less fossil fuels in these sectors, part of the increase in the price of carbon will be passed on in the short term to consumers at the pump and the meter for heating. With the key to a possible “yellow vests”, this time from all over Europe. A risk on which alerted the recent report on the great economic challenges of Pascal Blanchard and Jean Tirole.

The authors noted that “The ‘losers’ of climate action are often overlooked.” “The carbon tax, which triggered the yellow vests movement, was economically justified. However, it is the absence of measures intended to offset, at least in part, its consequences on disadvantaged households and motorists in rural and peri-urban areas poorly served by public transport for which it has been accused “, added Pascal Blanchard and Jean Tirole.

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