Price on CO₂ could benefit German companies in international competition - scientist

A price on CO₂ in Germany would bring a push in innovation from which German companies could profit in international competition, Ottmar Edenhofer, designated director of The Potsdam Institute for Climate Impact Research (PIK), told Spiegel in an interview. “However, I admit that we are still far from introducing a price anytime soon.” A CO₂ price would make the use of fossil fuels less profitable and thereby speed up the industrial transition, and create new revenues for the government, which could be used to finance climate change adaptation, said Edenhofer. “You have to make clear that many things become more expensive without a price on CO₂, because climate change leads to more crop failures, […] extreme weather increases the price of insurances, destroyed infrastructure leads to higher taxes. We can decide if we want to pay for the damages, or for preventing them.”

Find the interview in German (behind paywall) here.

For background, read the CLEW article Energy minister rejects idea of changing fees and taxes on energy.