Advisory council on economy makes case for global CO2 price, says German coal exit not efficient

The German Council of Economic Experts has suggested that instead of “national energy transitions and action programmes”, a global CO₂ price would be the better system to reduce greenhouse gas emissions. In its 2018/19 annual report, the council says that difficulties in international coordination for such a pricing scheme should not be used as an excuse for Germany to make its own national measures. EU member states should focus on a working CO₂ price within the union. The council warns that a German coal exit would only lead to more emissions in other countries and increase economic costs for Germany alone.

Find the report in German with a partial translation into English here.

Also read CLEW's interview with the chair of the German Council of Economic Experts Christoph M. Schmidt, and find an article on Germany’s environment minister pushing for a national CO₂ price here.