Abstract

At the UN climate conference in Paris, participants committed to reaching climate neutrality in the second half of the 21st century. This is only possible, however, if climate protection measures are not concentrated on individual countries. Emissions trading is an efficient tool to help reduce greenhouse gas emissions on a global scale. The CO2 price would need to be harmonised globally in order to avoid distortions of competition and carbon leakage. To achieve this, there has been a call for the introduction of CO2 taxes. Germany will miss its climate policy targets for 2020. If the necessary significant reductions in greenhouse gas emissions are to be reached in the coming decades, a political and social rethink is needed. A comparison between the efforts of the past and those that must be undertaken in the future demonstrates just how far we have to go.

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