Global greenhouse gas emissions are currently around 40 percent higher than in 1990. Something is going wrong.

It cannot be because of the public attention.

Most people consider climate change to be the greatest challenge of our time.

With the exception of a few confused outsiders, no one today doubts that climate change is human-made and that it must be managed by humans.

Appropriate measures are the subject of political campaigns, central legislative initiatives, scientific studies and international summits: The 26th UN Climate Change Conference COP26 begins at the end of next week in Glasgow, Scotland.

Rainer Hank

Freelance writer in the economy of the Frankfurter Allgemeine Sonntagszeitung.

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So what's wrong?

My guess: there is a gap between morality and reason.

A bit tougher: it could be that the honorable will of many people to do good in terms of climate policy will ultimately not mitigate climate change, but make it worse.

Not enough team spirit

Let's start with rationality. The way we live, we emit large amounts of greenhouse gases, which are responsible for global warming. There are high costs due to external effects for which the polluters pay no (or too low) a price. It follows that this price should be made visible and everyone who causes it should be invoiced. Every plane in the air, every car on the road, every cow in the pasture would have to pay. It is very important that almost all countries (and people) in the world take part. Countries in which a sometimes high price for emissions is already due (Sweden, Norway, Switzerland, Germany) are only responsible for a very small part of global climate pollution (Germany is known for around two percent).80 percent of emissions are generated in countries that do not charge a CO2 price. They are free riders of the "virtuous" states because they can produce and export cheaper.

In order to stop free riders from doing their thing, Nobel laureate in economics, William Nordhaus, has long been proposing that countries willing to reform form a climate club and set a uniform CO2 price for all members. That would gradually make the consumption of fossil fuels more expensive. Because this gives those countries a financial advantage that are not members of the club, imports from third countries into the club are to be made more expensive with a punitive tariff. This creates an incentive to join the club.

In the opinion of many economists, the club is a key way of slowing the pace of global warming and preventing a climate catastrophe at the last minute.

The cardinal mistake of all international conferences since Kyoto is therefore that the decision was made to only enter into price commitments unilaterally and voluntarily - instead of founding a club for the benefit of everyone.