Germany Plans Billions for Climate Target Acceleration
The governing German cabinet has agreed upon a revision of the country’s climate protection law that will see it do more sooner to curb greenhouse gas emissions. The new plan will see the intermediary goal for 2030 raised from 55 to 65 percent reductions in CO2 compared to 1990.
The government formulated a 2040 new intermediary goal of 88 percent reductions and will now aim for complete climate neutrality by 2045 rather than 2050.
“With this legislation we will create more fairness between generations, more security in our planning and a decisive climate-protection program that doesn’t throttle the economy, but rather remakes and modernizes it,” said German Environment Minister Svenja Schulze. “For that reason, instead of a tightening of climate laws, I prefer to call this an easing of the climate crisis.”
The legislative change will require parliament approval, which is virtually assured. The lion’s share of the reductions will have to come in Germany’s energy and industrial sectors. Energy efficiency in construction and heating will also be a focus. The government says it’s prepared to allocate as much as EUR eight billion to achieve its CO2 goals.