France sets carbon price floor

2017 finance bill will set price at a30 a tonne in a bid to stir European action to cut emissions and drive forward the Paris climate agreement

France will set a carbon price floor of about a30 ($33.95) a tonne in its 2017 finance bill as the government seeks to kickstart broader European action to cut emissions and drive forward last year's landmark international climate accord.

The French government said last month that it would unilaterally set a carbon price floor in the absence of a broader European initiative to strengthen carbon pricing, hoping the move will spur other countries to act. It did not, however, give an indication on pricing.