Author: Christian Wessels

Limiting global warming to below two degrees will be the focus of the World Climate Conference to be held in Madrid from 2 to 13 December 2019. A possible solution to be discussed in Madrid is the global establishment of trade in pollution rights. In principle, emissions trading is a sensible way of reducing CO2 emissions at the global level. In practice, however, this principle repeatedly encounters problems such as the temporarily low prices of certificates, which are not always sufficient to trigger necessary climate-friendly investments on the part of the polluters. Africa faces a twofold problem. First, there is…