PIK STATEMENT on the Signing Ceremony of the Paris Agreement in New York on Friday

04/21/2016 - This Friday, more than 160 countries intend to sign the Paris Agreement on Climate Change that was adopted at the UN Climate Summit at the end of last year. For Germany, the Federal Environment Minister will attend:

Prof. Dr. Ottmar Edenhofer, chief economist of the Potsdam Institute for Climate Impact Research (PIK) and director of the Mercator Research Institute on Global Commons and Climate Change (MCC) says about the signing of the global climate treaty:

"In order to limit climate risks, the Paris agreement has to be implemented quickly – as clear as the goals are, the way to get there is uncertain. Worldwide, a huge number of coal-fired power plants are being built. Here, only the economic principle can be of help: those who harm the climate, to the detriment of all, have to pay for it. This would trigger investments in clean innovations. Europe's emissions trading is also in need of restructuring – it currently works like a betting shop for political policy-making, with everyone underbidding each other. Research shows that a minimum price for CO2 is the best solution. Internationally, emerging and developing countries should be supported in the introduction of a CO2 price through transfer payments."

Weblink for more information on the signing in New York: http://newsroom.unfccc.int/paris-agreement/april-22-paris-agreement-signing-ceremony-in-new-york/