Germany to spend €40bn on climate measures

Reuters has reported that new climate protection plans will be announced in Germany on 20 September. The plans are said to cost €40bn by 2023. A source who has been briefed on the plan has told Reuters that the particular forms of planned action are still under consideration, and the German Government has not agreed on a price per tonne of CO2.

This news follows a meeting on Friday between coalition members, including Chancellor Angela Merkel’s conservative Christian Democrats (CDU) and the centre-left Social Democrats (SPD). The source has claimed that the parties involved have disagreed on which kinds of planned action are appropriate, the CDU calling for measures that do not negatively affect German industry, and the SPD calling for measures that protect smaller businesses and workers. Merkel has said that the plan will include carbon emissions pricing and other emission reducing measures. Reuters reports that the plans are expected to also include grant extensions for electric car buyers, more electric vehicle charging station infrastructure, higher road vehicle pollution taxes, improved building heating systems and green surcharges for plane tickets.

Despite differences in priorities, Germany’s Government intends to double its renewable energy capacity to 65 per cent by 2030, and shut down all German coal plants by 2038. This could affect German mining communities and require retraining and restructuring in these regions, which Reuters predicts will cost the country at least €40bn.

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