Economist calls for climate policies to meet different countries’ needs

Global climate policies must be shaped towards different countries’ strengths and weaknesses if they are to be successful, a leading German economist has said. In an opinion piece for Der Tagesspiegel newspaper Veronika Grimm, professor of economics at the University of Erlangen-Nuremberg and a member of the German Council of Economic Experts, argued that “in order to save the world’s climate, we must build a bridge for those countries that cannot or will not easily develop a will to transform.” 

"The focus is on challenges, such as the profound change in production structures and the loss of business areas," she argued.  Grimm defined countries such as Russia, Poland and Nigeria as being at a disadvantage in the switch to clean energy due to their economic dependence on natural gas, oil and coal reserves, and Australia and the Gulf states as being well-positioned for producing renewable energy. She also stated that Germany had the potential for housing clean tech startups. "The coordination of changes along the complex and often international value chains is not always successful," she said, adding that neglecting these issues "delays necessary investments."