The German government is raising its climate ambition to target net zero emissions by 2045. The sudden shift follows a landmark court ruling in favour of youth plaintiffs and reflects rising public demand for green policies ahead of September’s election. Finance minister Olaf Scholz and environment minister Svenja Schulze announced the proposed targets to press in Berlin on Tuesday: a 65% emissions reduction by 2030, 85-90% by 2040 and net zero emissions by 2045, all compared to 1990 levels. Previously, the goals were 55% by 2030 and climate neutrality by 2050. If adopted by the cabinet next week, Germany would have the second deepest 2030 emissions reduction target of any major emitter, compared to 1990 levels, after the UK. It would be the biggest economy to match Sweden’s 2045 net zero ambition.
Climate Home News 5th May 2021 read more »
Business Green 5th May 2021 read more »
Germany is planning to turbocharge green investment as the rebound from Covid coincides with tighter net zero targets, while Angela Merkel’s party faces a serious threat from the Greens in September’s federal elections. The Government has announced new plans to cut Germany’s carbon emissions by almost two-thirds by 2030 and to zero by 2045, compared to previous proposals for 2050, as well as unveiling a sustainable finance strategy. This envisages heavy investment in cleaner energy, physical infrastructure, retraining workers and a “circular economy” with more recycling. It could also pose a threat to the City of London as Germany aims to turn itself into “a leading sustainable finance location”, in part by issuing more green bonds this year. The move comes as Germany leads the eurozone’s rebound from its double dip recession, led by strong growth in manufacturing in the currency area’s largest economy.
Telegraph 5th May 2021 read more »