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July 2022

Carbon pricing as a game changer: How does it work?

Hardly anyone disputes that climate change is measurable and tangible, and that humans are an important part of the cause. All of us are familiar with the emissions-dependent insurance tax for automobiles. The more you emit, the more tax you pay. Another approach that pursues the same goal is the European emissions trading scheme. In this system, a carbon price is created because companies that release emissions have to have certificates, which are tradeable. In emissions trading, the quantity of carbon emissions is limited, but the price is variable. The idea that carbon emissions cost money is widely accepted. However, there are intense discussions about the price per tonne. The question is: Does this result in a guiding effect? Will we be able to change course? After all, this involves a turnaround in global economy…

Wolfgang Pinner

Head of Corporate Responsibility