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EU-Flaggen vor dem EU-Parlament in Straßburg.

CO₂ pricing: Greater harmonization may lower costs

Fragmented CO₂ pricing in the European Union could be improved to support more efficient climate policy. Experts call for greater harmonization, arguing that the direct exchange of emission allowances could lower prices and allocate resources more effectively.

By Lukas Knigge

Russian attacks on Ukraine s Kharkiv Oblast KHARKIV OBLAST, UKRAINE - SEPTEMBER 17: Ukrainian rescuers of the State Emergency Service and firefighters continue to extinguish the forest fire after a Russian bomb explosion in Kharkiv Oblast, Ukraine on September 17, 2024. In Russia s four bomb attacks on Kharkiv, one of the bombs exploded in a forest near one of the city s settlements and caused a forest fire. In another attack that occurred while the Ukrainian State Emergency Service teams were trying to extinguish the forest fire, 4 rescuers were injured. While 2 of the 4 injured rescuers suffered traumatic amputation, three local residents who were around during the explosion were also injured. After the injured were taken to the hospital,

War in Ukraine: How it is damaging the climate

Russia’s invasion of Ukraine generated 75 million metric tons of CO₂ equivalents last year alone. War-induced landscape fires rose sharply once again. Ukraine now intends to seek compensation for the resulting social cost of carbon.

By Kai Schöneberg