German government reaches agreement on Climate Action Plan 2050
Federal government / Reuters
Chancellor Angela Merkel, economy minister Sigmar Gabriel and environment minister Barbara Hendricks have agreed on the Climate Action Plan 2050, which they had heavily debated in the run-up to the COP22 climate talks in Marrakesh, writes news agency Reuters. The plan is to include CO₂ emission reduction targets for individual economic sectors, according to a government spokesperson. "Especially the sector targets, included in the climate protection plan, will be subject of a comprehensive impact assessment" and could be adjusted in 2018, said the spokesperson. Federal cabinet approval will be sought over the weekend.
In a separate press release, Gabriel added that the government agreed on establishing a regional fund to create new jobs and added value in the regions affected by structural change resulting from a reduction of coal-fired power generation. “Only if we connect climate protection with saving industrial jobs also in the energy industry, will other countries follow us in our very ambitious climate policy,” said Gabriel.
Read the article in German here.
Also read the CLEW article Coal exit dispute delays Germany’s Climate Action Plan and the CLEW factsheet Germany’s trimmed-down Climate Action Plan for background.
The Clean Energy Wire will publish an article on the new agreement shortly.
German utility RWE’s green subsidiary innogy reported a 7 percent fall in EBITDA in the first nine months of 2016 compared to the same period last year. The decline in profits comes one month after the company’s stock market debut in October. “The results of the first nine months of 2016 were particularly affected by additional expenditure on maintenance of grid infrastructure, especially in Germany,” the company said in a press release. EBITDA was 2.92 billion euros and innogy confirmed its outlook for 2016. It continues to expect EBITDA of 4.1 to 4.4 billion euros.
For background, read the CLEW factsheet RWE’s plans for new renewable subsidiary.
Cooperation and the bundling of resources can help local German utilities cope with challenges brought on by the energy transition, writes Jürgen Flauger in the Handelsblatt. Local utilities in Cologne, Düsseldorf and Duisburg have initiated cooperation talks, for example in joint operation of the power grid, Flauger says, citing company sources. The energy world is becoming “more and more complex – and one can best respond with partners,” Dieter Steinkamp of Rheinenergie AG in Cologne told Flauger.
Read the article (behind paywall) in German here.
For background read the CLEW factsheet Small, but powerful – Germany’s municipal utilities.
German wind turbine manufacturer Nordex said Thursday in its 9-month interim statement that sales in 2016 would be "at the lower end of the previously defined range of 3.35-3.45 billion euros," due to project delays. This "will cause the full-year EBITDA margin to shrink," the company said, to 8.3% instead of the 8.7% originally projected. Franz Hubik in the business daily Handelsblatt wrote that during trading on Thursday, the company's stock price fell by as much as 9%, and is down 40% this year.
Helmholtz-Zentrum Geesthacht – Centre for Materials and Coastal Research
Scientists expect an average increase in air temperature in the North Sea region of 1.7 - 3.2 °C by the end of the century, compared to the period 1971-2000, according to the report “North Sea Region Climate Change Assessment” published by Helmholtz-Zentrum Geesthacht (HZG). This was the first comprehensive climate report for the North Sea region, HZG writes in a press release. A rise in sea level of 30-100cm is very likely and climate change is expected to significantly change the different eco-systems in and around the North Sea.
Download the full report in English here.