“Government advisors support floor price for CO₂ emissions”

The Paris Climate Agreement is unlikely to be the right way to reach the goal of limiting global warming, according to the federal economy ministry’s independent academic advisory board, writes Andreas Mihm in Frankfurter Allgemeine Zeitung (FAZ). In a not-yet published opinion, seen by FAZ, the scholars call the agreement “a patchwork of voluntary commitments […] defined for the distant future” and with “questionable enforceability”. Instead, the authors propose that a “coalition of the willing”, for instance the G20 member states, should agree on and push for the global introduction of a floor price for CO₂ emissions, writes Mihm. Germany’s G20 presidency offered the right opportunities.

For background read the CLEW article Experts call for CO2 price to retain Energiewende’s credibility.