Germany’s 2024 emissions lead to damages to health, economy totalling €647 bln - env agency

Germany’s 2024 greenhouse gas emissions alone are set to lead to global welfare losses reaching 647 billion euros during their lifetime in the atmosphere, the country's Federal Environment Agency (UBA) has said in a report. Taking into account the damage to current and future generations, the emissions are set to drive losses such as crop failures due to droughts or destroyed buildings after floods, according to UBA’s Handbook on Environmental Value Factors. 

Every tonne of greenhouse gas that is not emitted pays off in avoided damages to health, prosperity, infrastructure and economic performance, said UBA head Dirk Messner. “If we take the impacts on current and future generations seriously, we must regard climate protection as a key economic and social precautionary measure,” he added. 

The agency modelled the cost of Germany’s emissions to better assess the extent of damages they cause, as well as the benefits of preventive measures. Putting a monetary value on emissions means the government and private companies can better assess the impact of new laws or infrastructure investments, UBA said, adding that results could be incorporated into political and economic decision-making. 

Germany aims to become greenhouse gas-neutral by 2045, five years earlier than the EU. It aims to achieve this by a combination of phasing out fossil fuels, expanding renewable energy sources, improving energy efficiency, and storing remaining emissions underground. 

According to the latest emissions projections data from early 2025, Germany would reduce greenhouse gas emissions by around 63 percent by 2030, compared to 1990 levels, if all current policies are fully implemented. However, experts consider this outcome questionable. The government must present a raft of proposals by 25 March showing how it aims to close the gap towards reaching a 65 percent reduction by the end of the decade.