Reaching 2030 climate targets will have positive effects for German economy – study
Implementing the sector targets for the year 2030 laid out in Germany’s Climate Action Plan 2050 will have positive effects on the country’s economy, according to a study commissioned by the federal environment ministry (BMU). While the goals could be reached using a variety of different approaches, the positive effects would be biggest if strategies focussed on efficiency. “However, gains in many sectors are offset by declines in value added and employment in some sectors,” says the study, which compares different scenarios.
"Economic output will be 1.1 to 1.6 percent higher in 2030 if we invest in climate protection. So we will be richer, not poorer,” state secretary Jochen Flasbarth told Tagesspiegel Background in an interview. He added that power prices will not rise due to climate protection. “This is a clear and important result of the study.”
Find the study summary in German here.
For background, read the CLEW factsheet Germany’s Climate Action Plan 2050.