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20 Apr 2020, 13:35
Freja Eriksen

Daimler plans on using green bonds to reach climate goals

Frankfurter Allgemeine Sonntagszeitung / Handelsblatt / Clean Energy Wire

Daimler will stick to its CO2 goals and aims to use financing instruments such as green bonds in the future, the carmaker's head Ola Källenius writes in the Frankfurter Allgemeine Sonntagszeitung. "They offer us new opportunities to finance high future investments in CO2-neutral technologies. At the same time, they offer environmentally oriented investors the opportunity to participate directly in our sustainability projects," wrote Källenius, who added that this would support the EU's Green Deal. Volkswagen's COO Ralf Brandstätter has similarly said the manufacturer would stick to its climate goals, proposing a state premium to aid the car industry, which could be "based on the CO2 emissions saved", writes Handelsblatt. He, however, said a premium should be broadly based and "include modern vehicles with internal combustion engines". Greenpeace transport expert Benjamin Stephan criticised VW's proposal arguing that "those who sell more diesel and petrol cars today with the help of tax billions will sell fewer electric cars tomorrow."

Germany's carmakers are slowly ramping up production in the wake of shutdowns caused by the coronavirus outbreak. BMW has also proposed an "innovation premium" for car buyers to boost the economy and accelerate the switch to climate-friendly mobility, while several German states have called on the government to support the car industry under the crisis. Leading industry and trade union representatives have, however, also recently urged the government to back them in efforts to make the EU drop the planned tightening of emission limits on cars from the current fleet emission limit of 95 g of CO2 per kilometre.

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