The recent Sustainable Innovation Forum 2021 and Hydrogen Transition Summit revealed that business leaders want to decarbonise but are held back by the lack of price ambition and predictability of the Emissions Trading Systems (ETS) carbon pricing regime. They argued for an economy wide, strong, predictable, preferably global, carbon price to facilitate decarbonisation, ….”The best (thing) governments can do to promote hydrogen is a global carbon tax” Seifi Ghasemi Chairman, CEO and President of Air Products.
The management consulting company Roland Berger advocates a high carbon price to render decarbonisation cost effective, at a level only currently found in Sweden and Switzerland (alongside ETS, with Climate Income in Switzerland). Stefan Schaible, Global Managing Partner, Roland Berger, stated that COP26 had been as he expected, not the lowest or the highest step in the right direction. There was however, a step change in opinion on the environment, (the German government even includes Green Party members!) so there is continuing pressure to reduce emissions targets……“We need action. We cannot go on like this for certain sectors such as energy and transport. Only with carbon at $100 per tonne will profits shrink dramatically or even halve so they (the industry sectors) have to move”.
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