Germany’s chemical industry association Verband der Chemischen Industrie (VCI) has called for worldwide uniform pricing of CO2 emissions, in order to guarantee a level playing field for companies working to reduce greenhouse gases.

Speaking as ACHEMA 2018, billed as the world’s leading trade show for the chemical process industry, opened in Frankfurt, the association’s general manager Utz TIllmann said there should be “comparable competitive conditions” at least in the G20 countries. These account for 80% of global CO2 emissions.

Tillmann said chemical producers believe a generally applicable CO2 price could be determined by means of an emissions trading scheme such as the EU’s or embedded in a “political approach” such as a uniform tax.

After the US withdrawal from the Paris climate agreement and in view of the outcome of the recent G7 summit – from which President Donald Trump also withdrew US participation – an international arrangement to help meet the targets “would be difficult to bring about.”

In any case, Tillmann said, “the G20 should jointly work toward this goal. "In the narrowest of scenarios, he said the EU “needs to speak with one voice for a return to a constructive international cooperation. This holds true for responses to US protectionist measures and the further development of transatlantic relations,” he added.