“1.4 trillion euros for climate protection: They can do it”
The effect on the German economy of the bid to cut greenhouse gas emissions by 80 percent by 2050 will be small and positive, according to an unpublished study by Boston Consulting Group and Prognos, writes Andreas Mihm in Frankfurter Allgemeine Zeitung. The study, commissioned by the Federation of German Industries (BDI), estimates that an additional investment of 1.4 trillion euros is needed to meet the goal. The largest sum was needed in the transport sector, with 450 billion euros, 400 billion euros to refurbish buildings, and energy suppliers had to invest 370 billion euros, writes Mihm. The final report is due to be published after the election and is meant to supply “reliable numbers” for discussions about a long-term climate protection strategy, writes Mihm.
Read the article in German here.
For background, read the CLEW dossier The energy transition and climate change.