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15 Aug 2019, 12:11
Julian Wettengel

Greens call for ecologic investment programme as German economy slows

Tagesspiegel Background

Green parliamentary group head Katrin Göring-Eckardt has called for an ecologic stimulus package as news of Germany's economy shrinking in the second quarter of 2019 caused some economists to warn of a recession, writes Nora Marie Zaremba in Tagesspiegel Background. "Climate action and the economy are mutually dependent. It's time for an ecologic investment programme," Göring-Eckardt told Tagesspiegel. With time running out to reach climate targets, investments are urgently needed in all sectors, she added. According to the Green politician, climate action is the key to secure the German industry's competitiveness. Economist Adriana Neligan of the German Economic Institute (IW) told Tagesspiegel that "climate action has long become a driver of growth in the economy”, with billions of euros of revenue made with technologies that help protect the climate.

After balking at the Energiewende for many years, German industry has made a notable shift - embracing the energy transition with a new fervour. Business is increasingly seeing how money can be made from a low-carbon future, alongside benefits for the economy as a whole. Many startups are taking advantage of the transformation by bringing novel business ideas to market. However, many businesses are calling for regulatory changes and support from the government to scale up key technologies.

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