French carbon tax

In the Finance Bill for 2014 (Dec. 2013), the French government adopted a carbon tax of US$9.70/tCO2 e in 2014; increasing to US$17.60/tCO2 e in 2015; and US$24.00/ tCO2 e) in 2016 for the use of fossil fuels not covered by the EU ETS. In August of 2015, France enacted its Law on Energy Transition to Green Growth, which called for a 40% reduction in GHG emissions relative to 1990 levels by 2030. The 2015 Act set a trajectory for the tax rate to gradually increase until 2030, up to the rate of 100 €/tCO2e.