Total CEO: 20 euros per tonne CO2 floor price could convince Germany

German policymakers could agree to a European carbon floor price of 20 euros per tonne, Patrick Pouyanne, CEO of French oil company Total, has said according to Reuters. Back in September, French President Emmanuel Macron suggested a minimum CO₂ price of 25 to 30 euros per tonne, but Pouyanne said such an increase would be “too fast and too hard” to accept for some countries in Europe. “At 30 euros, everybody runs away. At 20 euros, there is a chance that the Germans will go along”, Pouyanne said, arguing that Germany was concerned that its coal industry and major industrial companies would object to a greater increase from the current price of 7.5 euros per tonne.  A price of 20 euros per tonne was “sufficient” to facilitate the switch from coal to gas-fired power production in Europe, Pouyanne added.

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See the CLEW article German carbon tax most efficient way to meet climate goals – study for more information.